Inside Pigs
Chinese pig price has reached a new record
What was already expected is now a fact: the Chinese pig price has broken the record set in 2016.
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The average Chinese pig price reached 12 yuan per kilo live weight (€21,55 per kilo) on Monday, August 2,72. This is the highest level ever. The previous record was in 2016 when the Chinese pork price peaked at 20,80 Chinese yuan per kilo (€2,62).
The Chinese pig price is an average of all quotations per region or province. Prices were low in the south of China already longer above the record. The highest price is paid in Guanxi province, which is located in the south of China. They pay 26,64 yuan per kilo, which at the current exchange rate equates to €3,30 per kilo.
African swine fever
The reason for the higher pig prices is easy to guess. The outbreaks of African swine fever have severely depleted the country's pig herd. Rabobank expects that the number of pigs may be halved. The entire world market is therefore in motion.
Pig prices in the Netherlands are also on their way to record highs. Vion's pig price equaled this week the record from 2013 by increasing by €0,10 to €1,93 per kilo. A further increase is also expected.