Pork imports from China set to rise amid questions over hog herd size

Published 2022년 11월 14일

Tridge summary

China's pork prices have surged by 51.8% year-on-year in October due to a significant reduction in supply, causing inflation in the world's second-largest economy. The high pork prices are expected to persist in 2023, despite government assurances of sufficient reproduction capacity. The decrease in supply is attributed to farmers stopping the slaughter of hogs and a drop in the number of sows. As a result, pig feed production has declined, leading to higher feed costs and further impacting the pork industry. However, pork imports by China are expected to rise in the fourth quarter and 2023, as reported by the US Department of Agriculture and Rabobank.

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

Original content

Pork is by far China's favorite meat and rising prices have fueled inflation in the world's second-largest economy at a time of slowing growth. The country produces about half of the world's production and fluctuations influence pork and meat prices globally. Chinese pork prices rose 51.8% year-on-year in October, the National Bureau of Statistics said, even as third-quarter production rose 0.7% year-on-year. Pork prices will remain high in 2023 due to lower supply, according to 10 industry analysts, farmers and feed and genetics suppliers, although they warned that demand could be affected by China's COVID measures. "We all need to watch China; we expect an increase in sales due to the pork deficit," Jim Long, chief executive of Genesus Inc of Canada, a supplier of breeding pigs to China, said in a note last week. JCI-HOG-LUOHE live hog prices rose by about 78% from June to 28.50 yuan ($3.98) per kg on Oct. 19, the highest since March 2021, according to data from Shanghai JC ...

Source: Portal Do Agronegocio