News China
Millions of pigs die in China floods
Floods in China may have killed millions of pigs. The Asian superpower has also been hit hard on other fronts.
The floods started in mid-June and are still out of control by early August. While water disasters in China are not uncommon at this time of year, this year has been extreme. There is talk of the worst flooding since 1998. The problem area runs from the southwest to the east coast of the country. Tens of millions of people have since been evacuated.
According to the Chinese Ministry of Emergency Relief, the damage is up to $21 billion, due to crop damage, broken roads and buildings, among other things. After the corona crisis, this again means a major setback for the country with the second largest economy in the world. The agricultural sector has also been hit hard. A large part of rice cultivation has failed and so have corn crops and other crops.
5% of pig herd drowned
Livestock farming will also be hit. Ping Chew, chief analyst at Rabobank's Asia research, knows from industry estimates that 20 million pigs may have drowned in recent weeks. This amounts to 340% of the total Chinese pig population of 5 million. The exact amount of the damage should become clear in the coming months, but the first estimates do not look good.
The Rabobank analyst expects the pig price to remain at a high level for the time being. Ever since Medio may there is an upward trend, prompted by the floods that occurred at the time. The pig price has leveled off for several weeks, today (Monday, August 10) the national average was 37,30 yuan per kilo. Converted that comes down to € 4,55.
Wouter Job
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