Pork prices in China have fallen to the 4 year low
The largest pork market in the world is facing serious problems as the prices are taking a plunge by 31.7% compared to the same period of 2017, informs Xinhuanet agency.
The average pork price in the third week of April fell to CNY10.87 ($1.70) per kilo, down by 1.3% from the previous week and by 31.7% compared to the same period of 2017, according to the data reported by the Chinese Ministry of Agriculture and Rural Affairs.
Local companies are suffering from this harsh downturn that started almost a year ago and even the most cautious farmers are feeling the pain.
"Two years ago, I could earn 600 yuan ($94.34) from raising a pig, but now I would lose 300 yuan ($47.17) by raising one", explained Wang Yaqin, a pig producer from Lishu County.
Liang Qi, an agriculture product price expert, sees a boom-and-bust cycle depending on supply and demand in the market but is also considering the fact that the information exchanged between the two parts of the market is not sufficient to generate an equal response.
"However, the prolonged cycle of price fall suggests asymmetric information of the supply and the demand sides, as they are separated by links in the production chain including slaughtering, cold chain logistics and meat processing", said the expert.
In her opinion, farmers should have a nationwide big-data information service system for early warning of pork prices to guide their production strategy.
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