Jul. 19 – Pork price in China keeps on arising, the average wholesale price of pork climbed 29.8 percent year on year to 21.59 yuan per kg in June, data from the Ministry of Agriculture and Rural Affairs this week. Chinese consumer spending on pork was around 150.6 billion U.S. dollars in 2019; it will arise to 161.4 billion U.S. dollars in 2020, data from depicts the retail sales value of pork products in China.
Pork Price in China Keeps on Arising High
The price of pork in China clings to new high. The average wholesale price of pork climbed 29.3 percent year-on-year to 20.63 yuan (about 3 U.S. dollars) per kg in May; China’s pork prices continued to rise in June and the tightness of pork supply are predicted to be intensified in the second half of the year. The average wholesale price of pork climbed 29.8 percent year on year to 21.59 yuan (about 3 U.S. dollars) per kg in June, data from the Ministry of Agriculture and Rural Affairs showed this week. The price of pork, staple meat in China, persisted high in the first half of the year due to tightened supply. As the recovery of hog production capacity still needs time, the upward pressure on pork prices is still very heavy. China’s hog stock declined by over 20% year-on-year last month due to multiple factors including the infectious animal disease and higher costs of pig breeding, according to the Ministry of Agriculture and Rural Affairs (MARA)
Pork Supply in China Continues in Heavier Shortage
Since the first case of African swine fever in August 2018 in China, the Chinese government related authority – the Ministry of Agriculture and Rural Affairs (MARA) takes stronger measures to stabilize pork supplies. Among others, the important supporting policy included that local governments will award incentives to major hog producing counties and allowances for African swine fever control efforts in a bid to revitalize pig farming. China produced 24.7 million tonnes of pork in the first six months of 2019, down 5.5% from a year earlier, according to figures from the National Bureau of Statistics. As hog production has been continuously declining, the pressure on pork supply has become heavier in recent months, leading to rises in the prices of beef, mutton, chicken and eggs.
Pork Products Import to China Expanding
In order to stabilize meat supply in China market, at this moment, to increase of pork import to China is one of the options. As pork, among other, is one of the most widely eaten meat in China, The country butcheries almost 700 million pigs a year, that number can’t be delivered at this moment and not foreseeable future either due the African swine fever. It is not surprising that China increase pork meat import, the volume of import keeps on amounting, according to customs data showed China pork imports jump up 24% in April from the same month a year earlier, at the same time, China imported 136,517 tonnes of pork in April. While China pork prices stand to keep rising in the second half, in order to stable meat supply, China expanded its imports of pork products. With almost 1.4 billion Chinese populations, and as the world’s top consumer of the meat, the country kept up on concerns of a coming up shortage. China’s pork meat supply shortage is now impacting the global pork industry. China market contains enormous pork import potentials by far. Given the size of the market and its growing middle class, China’s record economic growth has changed the country into a global purchasing house. For those pork meat producers and suppliers, China market provides an unique chance for meat imports and with Chinese pork meat Importers, The List of Chinese Importers for Meats Products is available upon request, please contact with DCCC, or email to: email@example.com