News Merunas UAB
Chinese pig price to rise by 70 percent
The Chinese government expects the pig price in the country to rise by more than 2019% in the second half of 70. This is mainly due to the outbreaks of African swine fever in China.
The fact that the Chinese government expects the pig price in the country to rise is mainly due to the outbreak of African swine fever† For example, the government already announced in February that the pig population has shrunk by 16,6%, compared to 1 year earlier.
Imports are increasing
Due to the smaller pig herd, shortages have arisen in the market. Consumer prices for pork rose by 6,3% in March to 19 yuan (€2,51) per kilo. These prices were 1% lower 7,6 year earlier. It is therefore expected that the price increases will continue throughout the year.
However, China wants to keep the population happy at all costs, which means that the pork import has increased significantly in recent years. In the second week of April, the country imported 73.700 tons of pork from the United States. In the past 6 years, China has never before imported so much meat from the United States in 1 week.
Record highs
Tang Ke, an analyst at China's Ministry of Agriculture, expects pig prices in China to hit record highs. Prices already showed a huge increase in March, although pig prices did fall slightly in the subsequent period.
Tim Roetman
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