China's Pork Prices Dropped Nearly 14% This Month on Farming Recovery
Liao Shumin
DATE:  Nov 26 2019
/ SOURCE:  yicai
China's Pork Prices Dropped Nearly 14% This Month on Farming Recovery China's Pork Prices Dropped Nearly 14% This Month on Farming Recovery

(Yicai Global) Nov. 26 -- Chinese pork prices have declined this month as production is slowly returning to normal after outbreaks of African swine fever.

By mid-November, pork prices fell almost 14 percent to CNY34.6 (USD4.92) per kilogram from the first ten days of the month, the National Bureau of Statistics released in a statement yesterday. 

China has been dealing with many separate African swine fever outbreaks since last year, resulting in large-scale pig culling. 

Every output indicator is improving, Yang Zhenhai, director of the animal husbandry and veterinary bureau under the agricultural ministry, said at a press conference on Nov. 22. The decline in hog inventory is slowing down and sow stock is increasing, Yang added. 

But the sector has a slow cycle and it relies on many variables, as the supply of the first half of next year depends on sow stock in the second half of this year, said Yang. 

It may take till the second half of 2020 until a major correction can be seen and the supply should reach about four-fifths of the normal level by the end of that year, Yang added. 

From Nov. 11 to Nov. 15, the average price of lean pork strips declined by 9.6 percent to CNY46.11 in 16 provinces from a week earlier, according to data from the Ministry of Agriculture and Rural Affairs.

Editor: Emmi Laine 

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Keywords:   Pork,NBS,Agriculture,African Swine Fever