The drastic increase in pork prices in China’s domestic market from June to July has drawn wide attention. On 20th July, China’s Ministry of Agriculture made comments on the current pig market in China. It’s said that the number of live pigs in China is sufficient, and pork prices are not likely to experience dramatic increase in the future.
From the end of June, pork prices in China have experienced a period of fast growth followed by the recent decline. Now Chinese domestic pork prices are staying at 22.8RMB/KG, decreased by 1.1RMB from the previous high point.
In a nutshell, the recent pork price increase is caused by recovery and seasonal reasons along with other particular factors. China’s live pig capacity remains strong and it’s not likely for pork prices to experience significant increase in the near future.