China

China provides subsidies for the pig sector

Pork

Consolidation of the sector is the main objective of the new policy that Beijing is promoting.

Posted on Sep 09 ,10:46

China provides subsidies for the pig sector

Subsidies up to CHY5 million (700,000) will be given to pig farmers that are focusing on expanding their operations and to big farms that are looking to repopulate and consolidate their position in the market, announced China's National Committee of Development and Reform, according to Xinhua news agency.
After a decline of 33% in the national pig inventory due to the African swine fever (ASF) crisis, the Chinese government intends to stimulate the sector by giving subsidies to large pig breeders in the country. Nevertheless, observers are warning that the losses can be even higher than that.
The government's offer will not surpass 30% of the total investment made by the pig producers and, according to voices in the industry, will benefit the first 40-50 enterprises in the country. Also, the money is enough to cover the 20% of the construction cost for a modern farm, without including the location costs or the livestock. Since June, pork prices in the country have spiked to the level of $4.50/kilo due to a shortage in supply in the domestic market. Currently, China has increased the imports of pork, beef and sheepmeat due to the ASF situation and the trend is expected to continue in 2020. Until now, none of the large farms in China hasn't given any signal of herd rebuilding.

 NEWSLETTER - Stay informed with the latest news!

Comments





Similar articles

South Korea

South Korea reports ASF outbreak

South Korea is confronted with its first ASF outbreak on a pig farm in Paju, a town near its bord...


Read more Read more
Bulgaria

Bulgaria paid €2.5 million as financial support in ASF outbreaks

About €2.5 million was paid by the Bulgarian authorities to pig farmers affected by the Afri...


Read more Read more
Romania

ASF hits the largest Romanian pig farm

The largest pig farm in Romania was hit again in an ASF outbreak. Veterinary watchdog in Romania ...


Read more Read more
Websolutions by Angular Software and SpiderClass