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Chinese pork supply will recover in six months
CHINA - Official predictions say that China's pork supply will be stable in the second quarter of next year. But it will take about 18 months to breed more pigs to fill the growing market.Top economist Bi Jingquan, who is also vice chairman of the National Development and Reform Commission, said the supply of pork has increased recently and the price has stabilised.
"However, short-term fluctuation is still inevitable, while the possibility of another significant price hike is slim," he added.
Demand for pork may rise during the upcoming National Day holiday and the Mid-Autumn Festival, but the sufficient supply of non-staple food, such as beef, mutton and eggs, may help stem the pork prices from surging.
Even so, as the world's largest pork producer, it was unlikely that China would import huge amounts of the product. "No country can fulfill China's demand," said Bi.
Wholesale pork prices almost doubled in China in the first seven months of this year due to short supplies and mounting production costs.
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