Pork prices have suffered an unusually large and long slide in China as supplies rose following Beijing’s efforts to encourage large-scale farms, the Wall Street Journal reported Tuesday. Heading down since mid-December, prices didn’t perk up even for the Lunar New Year, when demand for pork spikes because it is used in traditional family holiday meals, the report noted. By the second week of March, live hog prices were down 14 percent from a year earlier, at about 12.19 yuan (US$1.97) a kilogram, it said, citing data from the nation’s agriculture ministry. Pork prices were down 10.2 percent, at about 21.75 yuan a kilogram, it said. Although it is bad news for the industry, the drop in pork prices is contributing to a slowdown in inflation, the Journal noted.
– Contact HKEJ [email protected]