China: pork prices down for four weeks now
Pork prices in China fell for the fourth consecutive week during the week
from August 27 to September 2 amid government efforts to increase supply,
according to the Chinese ministry of commerce.
Wholesale prices of pork dropped on average 2.8% from a week earlier, cutting
down prices of edible farm products in the country by
Among the 31 major cities monitored by the
ministry, 19 saw prices of pork, a staple in China, decline, while seven
reported continued price hikes, with prices in Hefei, Changchun and Hohhot
surging more than 10%.
Pork prices were unlikely to drop drastically
for the rest of the year due to rising demand and mounting production costs,
predicted the ministry.
The price decline is a
result of efforts that began last month by the government and producers to
increase supply. Also, some producers, worried that pork prices would continue
to decrease, sold their pigs ahead of schedule, the ministry
Due to short supply and mounting costs of inputs, the prices
were up 70.3% year-on-year at the end of last month, according to figures from
the National Development and Reform Commission.
It had almost
doubled over the last seven months.
â€¢ Chinese ministry of
Development and Reform Commission
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