Wholesale prices for frozen pork ham and shoulder in Hefei, China, averaged USD 1.97/kg in W43, a significant 53.95% YoY decline. This price drop is attributed to oversupply due to increased imports and rebounding domestic production. Pork demand in China has not rebounded as expected after COVID-19 restrictions were lifted in early 2023, due to a slowing economy. Consumption is expected to decline in 2024 due to lower domestic production and ongoing economic challenges. Thus, the market's future trend will largely depend on demand in the upcoming months.
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