Pork Prices in China Fall 2.8% for the First Time in More Than a Year as Supply Grows!
Pork Prices in China Fall 2.8% for the First Time in More Than a Year as Supply Grows!
Pork prices in China fell for the first time in more than one year by 2.8% as the supply of live pigs began to increase in October, stated China’s National Bureau of Statistics.
Prices of pork in China doubled last year when the African swine fever (ASF) broke out and killed hundreds of thousands of pig herds, forcing the country to import live hog and meat to fulfill the demand.
Experts expect the price to further decline in the current quarter due to an increase in the supply of live pigs as the consumer price index rose 0.5% in October from a year ago and overall food prices climbed 2.2%.
Late October, the agriculture ministry said that the supply of pork in China is expected to continue improving and price jumps are unlikely in the remainder of 2020, as pro-hog production policies took effect.
