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Pork Price Slumps for 14 Consecutive Weeks

by 5m Editor
19 April 2010, at 10:59am

CHINA - The price of pork continues to fall for the 14th week, causing an overall loss of production, according to the statistics issued by National Development and Reform Commission last Friday, 16 April.

According to the Ministry of Agriculture, in the first week of April, average hog price was 9.43 yuan per kg, down 1.9 per cent from the previous week and 11 per cent from the same time last year.

"I have been raising pigs for nearly a decade. The current price is the lowest over the years," said Su Rui, a farmer of Hebei province who has more than 1,000 pigs. Most farmers are running at a loss. Some small farms will not be able to withstand the downturn.

The new low pork price is firstly due to oversupply, said Mei Keyi, official of Beijing Agriculture Bureau. Too many diseases also lead to underselling and pull down the prices, added Mr Mei.