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Pork prices in China higher last week

Pork prices in China registered a week-on-week increase in the week from July 24 to 28, official data showed.

During this period, the average pork price of 16 provincial-level regions tracked by the Ministry of Agriculture and Rural Affairs stood at 19.52 yuan (about 2.73 U.S. dollars) per kilogram, up 6.6 percent from the previous week.

Some large-scale breeding farms raised hog prices as demand for heavy hogs expanded and individual pig farmers’ reluctance to sell grew, according to the ministry.

The price went down 29.5 percent year on year, narrowing 9 percentage points from the previous week, the data revealed.

“With the gradual reduction of sow production capacity, the supply of piglets decreased in the first quarter, and it is expected that the oversupply situation will be alleviated in the third quarter,” said Zhu Zengyong, a researcher with the Chinese Academy of Agricultural Sciences.

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