In less than 12 months, the Chinese government convened four national meetings on the pig industry. Why does China conduct such dynamic studies and update related policies so frequently? Said CF40 member Lu Feng, 1/6 cf40.org.cn/uploads/newsle…
The moves were against a back drop of rare fluctuations in live pig supplies and the pork market. Pork price in China rose by more than 70% over the past six months,while the year-on-year growth rate in late August climbed to as high as 53.3% 2/6
The recent steep rise in pork price is expected to continue unless unusually strong and effective measures are rolled out. 3/6
As poultry is the substitute for #Pork, a surge in pork price has indeed pushed the prices of poultry and other types of meat up to different extents.4/6
Chicken prices increased by 17.8% over the past two years, with an 8.6% year-on-year growth in July, 2019. It’s believed that the surge in pork prices is an important reason for this, among others.5/6
The interaction between supplies and demands of pork is usually cyclical; however,
the recent price hike is different. As the demand for pork remains relatively stable, it’s inferred that supply-side
changes are the major cause for the abnormal surge in pork price.6/6
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