Pork prices in China jump to a 13-month high
Pork is becoming more and more expensive in China due to a decrease in national swine population of 16.6% (72 million head ). According to a post of the Ministry of Commerce in China, the prices have jumped by 7.7% in the last week reaching a 13-month high of 20.48 yuan ($3.05) per kilogram.
Meanwhile, chicken prices last week rose by 1%. While the current pig population in China is at about 433 million head, the USDA estimates that by the end of the year the total swine inventory in China will be down to 374 million head. China holds half of the world's inventory of pigs and it is the world's largest market for pork.
According to the USDA estimate, this year China will import more than 2 million tonnes of pork, which represents an increase of 33% compared with 2018. In August 2018, China was hit by the African Swine Fever virus and since then the country has reported 112 outbreaks in 28 provinces.