China: Overseas agriculture-related information express (Issue 397)

Published 2023년 11월 26일

Tridge summary

China's pork prices have dropped significantly, with a drop of over 40% in wholesale prices year-on-year. This could lead to a negative Consumer Price Index (CPI) for October, fueling concerns of a potential deflation in China. Global wine production is also expected to decline by 7% due to severe weather conditions, marking the lowest level in 60 years, with EU countries and major producers experiencing significant drops in output. Additionally, Argentina's soybean crushing volume has reached its lowest level in 18 years, leading to predictions of a raw material shortage and the need to increase imports.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

1. According to a recent report by the British "Financial Times", since the beginning of October, the price of live pig futures on China's Dalian Commodity Exchange has dropped by about 15%, and the wholesale price of pork has dropped by more than 40% year-on-year. Since pork prices account for a large proportion of China's CPI, its continued The decline may turn October's CPI negative again, exacerbating concerns that China will slip back into deflation. 2. According to a recent report by the British Broadcasting Corporation, the International Grape and Wine Organization stated that due to the impact of severe global weather, global wine production in 2023 is expected to drop by about 7% from last year, the lowest level in 60 years. Almost without exception, EU countries are facing production declines Decline, of which Spain and Italy dropped by 14% and 12% respectively; Chile, the largest wine producer in the southern hemisphere, saw its output drop by 20%; Australia's ...

Source: Foodmate