BUSINESS Pork supply in China likely to rise during upcoming holidays

BUSINESS

Pork supply in China likely to rise during upcoming holidays

Xinhua

19:10, October 27, 2020

A local resident purchases pork at a farm produce market in Shanghai, on Feb 15, 2020. (Photo: Xinhua)

BEIJING, Oct. 27 (Xinhua) -- The supply of pork in China is expected to increase 30 percent year on year in the upcoming New Year and Spring Festival holidays as production recovers and imports rise, the agriculture ministry said.

Measures such as accelerating the expansion of farms and regular control of African swine fever have significantly promoted the resumption of hog production, Wei Baigang, chief economist at the Ministry of Agriculture and Rural Affairs told a press conference Tuesday.

By the end of September, the number of hogs available for slaughter had reached 370 million, recovering to 84 percent of that at the end of 2017, Wei said.

Wei added that pork prices continued to decline for eight consecutive weeks as hog production gains further momentum.

With more pork to hit the market, there is no basis for significant rise in pork prices around the Spring Festival next year, he said.

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