AHDB Pig Market Weekly
07 November 2016
Chinese import boom continues into Q3
Chinese imports of fresh/frozen pork continued to be significantly elevated in Q3 this year, increasing by 160% on the same period in 2015 to reach 516 thousand tonnes. This takes import volumes for the first nine months of 2016 to 1.28 million tonnes, well over double last year’s figure.
Chinese pork imports have escalated this year due to insufficient domestic production, following last year’s rationalisation of the breeding herd and the imposition of stringent environmental barriers hindering expansion. Strong demand for limited supplies drove the Chinese pork price to record highs in June, though it has subsequently declined, although remaining relatively strong. Reports of high temperatures reducing the consumer demand for pork, coupled to an increase in slaughtering rates, are thought to have influenced the drop. Nonetheless, average unit prices of exports remained 19% above last year’s levels during this period and plenty of scope was maintained for the major exporting nations to capitalise on Chinese demand.
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