France

Pork prices in France keep rising

Pork

The ASF situation in Asia has pushed up the prices of finisher pig by 22% in just 4 months.

Posted on Jul 25 ,07:09

Pork prices in France keep rising

The continuous demand for pork from Asian countries affected by African Swine Fever (ASF) virus such as China and Vietnam, has increased the pig prices in France in the last four months. "Market price was 1.563 € (per kg carcass) during the last market on July 18 and was 1.283 € during the market of March 21, four months earlier. Over this period, the price of finisher pig increased by nearly 22%, or around 26 € per head,", informs Philippe Malletroit, Director for France, Genesus Inc.
China has increased its pork imports by 62% in June, according to official data and the EU member states such as France, Spain, Germany, the Netherlands or Denmark are well-positioned to take advantage of the situation, considering the fact that Beijing is engaged in a trade war with the US and, recently, Canada.
Nevertheless, this is creating a shortage in their domestic markets and is driving up the prices. "The average carcass weight is decreasing (93.65 kg at the market on July 18), a decrease of 1.6 kg over the past four weeks, reflecting a constantly decreasing supply", added Mr. Malletroit.
By now, official data from China shows a 23% contraction of its breeding stock and it could go up by 50%, according to local observers. Also, Vietnam has reported the culling of 10% of its national pig inventory due to ASF outbreaks in 62 provinces out of 63 existing in the country. Both countries have a high consumption of pork and it is expected that the demand to increase further in the coming months as the domestic supply is getting thinner.
Since February, pork prices in Spain and France have increased by 30% and analysts are expecting to go higher in the second half of the year.
The ASF situation in Asia is seen as a threat to food security on the continent, according to the UN's Food and Agriculture Organization. Without a vaccine to stop the disease from spreading this situation could last for at least a decade in this area. Until last year, China was holding half of the world's pig population.

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