Price of pork flies to new high

by 5m Editor
23 May 2007, at 9:02am

CHINA - The price of pork has hit a new high in many cities due to a decrease in the number of pigs, but analysts said the price hike will not last too long.

In Qingdao in East China's Shandong Province, pork prices have been adjusted at least four times this month. A local food company manager said prices have increased by 20 percent in a fortnight to a record 21 yuan ($2.74) per kilogram.

Changchun, Jilin Province and Shenyang, Liaoning Province, both in Northeast China, are experiencing their highest prices for pork in 10 years.

The rise in corn prices has had a knock-on affect on pork prices as corn is used as pig feed.

A report by the Ministry of Agriculture shows that corn prices have been increasing in the past six months.

However, Zhang Zhiqiang from the Jinan pricing administration, was quoted by China Radio International as saying in two to three months' time more pigs will be ready to go on the market.

Source: People's Daily Online

5m Editor