Chinese Pork Prices Projected to Increase Amidst Subdue Demand During W31

Chinese pork prices are forecasted to increase slightly, with the average tracked price standing at USD 2.65/kg (CNY 18.98 /kg) during W31, a 32.9% decrease compared to the same period in 2022. According to the Ministry of Agriculture and Rural Affairs of China, June had a 7.2% year-on-year (YoY) decline in pork prices due to subdued demand. Experts anticipate a slight rebound in pork prices due to the overall enhancement of the pork supply and demand scenario.