December 27, 2007

China pork prices to remain high on holidays demand 

China's pork prices will remain high due to increased consumer demand on holidays, the Ministry of Commerce said on Wednesday.

Demand for pork usually surges in China as meat processors prepare for the approaching New Year's Day festival. People in some regions also make salted pork for the celebration, driving up the demand.

Pork prices nearly doubled this year before it declined from mid-August to mid-October. However, pork prices have rebounded since.

The wholesale price rose 1.4 percent last week over the previous week in advance of the coming festival. It was the 11th consecutive week in which pork prices rose.

Meanwhile, the wholesale price of beef also rose 1.4 percent in the same week, while that of mutton was up 0.6 percent.