China: drop in pig prices by 10% from peak level
Average pork prices have dropped this week to 12.61
yuan (€1.18), which, according to China's economic planner, is 9.61% lower than
the peak price on August 9. Pork prices have nearly doubled in the last eight
months as a result of lower supply and higher production
Prices have been dropping consecutively for eight weeks now and are down by
3.45% from the end of August as piglets, raised in May and June, are ready for
the pork market.
The National Development and Reform Commission
indicated that in 36 major cities, the daily butchering of pigs has increased by
12.6% since August and the supply is due to keep rising.
However, this decrease in prices will
probably stop due to the National Day holiday according to the Ministry of
General food price increases are being driven by the
soaring pork prices which led to a 6.5% increase in the consumer price index in
â€¢ National Development and Reform
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