China

5 consecutive months of growth for China's pig inventory

Pork

Pork prices in the Chinese market have hit the lowest level for 2020.

Posted on Dec 22 ,12:59

5 consecutive months of growth for China's pig inventory

China has increased its national swine herd for the fifth consecutive month this year and pork prices are declining bit by bit. At the beginning of the week, the country's Ministry of Agriculture announced an increase of 29.8% in November compared to the same period last year while breeding stock rose 31.2% in the year. Pork prices dropped to 45.8 yuan ($ 6.99) per kilo, the lowest level seen so far in 2020, thanks to an increase in the supply of meat on the market, the ministry added.
That may not be good news for the main suppliers of pork in the Chinese market such as the US, Brazil, Spain or Canada. In fact, several analysts have already signalled that new markets must be found soon to avoid turbulent conditions in the global meat market. Earlier this year, Beijing officials have announced that China is looking to achieve 95% self-sufficiency in pork over the next two years.

 NEWSLETTER - Stay informed with the latest news!

Comments





Similar articles

UK

UK's December lamb slaughter numbers up by 5%

UK lamb kill during December was 1.25 million head, up 5% on the same month of the preavoius year...


Read more Read more
China

China's meat imports increased by 60% last year

In 2020, China, the world's largest meat consumer, increased its meat imports by 60.4% compared t...


Read more Read more
Indonesia

13% drop in beef imports forecast for Indonesia

In 2021, beef imports from Australia and New Zealand and water buffalo meat imported from India a...


Read more Read more
Websolutions by Angular Software and SpiderClass