Price-In-Charts: Pork Belly Hit A Record-High in Canada

Markets for all types of meat are starting to recover as strong demand returns in 2021 after hit by the impact of the pandemic, as well as Canadian pork which currently growing in global markets. The country has exported a sizeable amount of pork overseas with the total volume and value increasing to 1.2B USD in 2020. Wholesale pork belly prices hit a record high of +117.56% YoY. Prices strengthened in the market around July 2021 and sold higher at 4.97 USD per KG in W1 August 2021. Recovery in production and higher export demand may cause pork prices to spike in 2021.