Pork prices in mainland China have fallen for eight consecutive weeks and there is still no basis for an increase

[The Epoch Times, November 13, 2023] Pork prices in mainland China have fallen for eight consecutive weeks recently. Some industry insiders believe that pig production capacity is too large and there is still no basis for pork prices to rise. Some people believe that the continued decline in pork prices may intensify deflation in mainland China. Monitoring data from the Ministry of Agriculture and Rural Affairs of the Communist Party of China show that on November 7, the average price of pork in the national agricultural wholesale market was 20.49 yuan (RMB, the same below)/kg, down 8.3% from 22.35 yuan/kg on September 7. Data show that since the first week of September, the national pig price has fallen for 8 consecutive weeks, with a cumulative decrease of 1.63 yuan/kg, a decrease of 9.5%; at the same time, the national pork price has also fallen for 8 consecutive weeks, with a cumulative decrease of 1.66 yuan/kg, a decrease of 9.5%. 6.1%. In addition, the national average price ...