Pork prices in China fall 18% y-o-y


However, meat imports are expected to hit a record high by the end of the year.


China's pig meat prices are declining fast this autumn compared with the same period last year, as the country is steadily rebuilding its herd. Live pig prices have been decreasing over the past 12 weeks. The current average live pig price is 29.82 yuan/kg ($4.50), which is 23.0% lower than that in the same period last year. The average price of pork in China is 47.66 yuan/kg ($7.20), down 18.6% year on year. By end of October, 361.86 million pigs were put on the market, down 11.7% year on year; and the pork output was 25.74 million tonnes, down 10.8%, according to the National Bureau of Statistics.


Consumption will grow by 2 million tonnes


China imported 5.96 million tonnes of meat from January to August, exceeding 5.06 million tonnes imported in the whole of last year of which pork accounted for the largest proportion. The share of pork imports rose, while the proportion such as beef declined. The country's meat imports are expected to hit a record high by the end of the year.


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Source : euromeatnews.com