Chinese pork prices drop by nearly 10% from peak price

BEIJING - The average pork price has dropped to 12.61 yuan this week, 9.61 percent lower than the peak price on Aug. 9, said China's economic planner after pork prices nearly doubled in the past eight months due to short supply and mounting production costs.

The prices have seen a consecutive drop for the eighth week, down by 3.45 percent from the end of August, as the piglets raised since May and June grew ready for the market to add to the pork supply.

Pigs daily butchered in 36 major cities have increased by 12.6 percent from August, and the supply is expected to keep rising, said the National Development and Reform Commission.

But the Ministry of Commerce said the decline in the pork prices would probably stop as demand surges during the ongoing National Day holiday and feedstuff prices stay high.

The soaring pork prices are major contributor to the general food price hikes that drive up the consumer price index to a 6.5 percent increase in August.

To continue reading this article please click here

Source: China View

Further Reading

- Go to another article on this subject by clicking here.

© 5M Enterprises Ltd.
2000 - 2007
No part of this site may be
reproduced without permission

5M Enterprises Ltd., 4 Haywood House, Hydra Business Park, Nether Lane, Sheffield, S35 9ZX, England.

Co. Registration 3332321 - A Benchmark Holdings Ltd. Company