China’s government is reported to be monitoring national pork production with the possibility of introducing a control plan to prevent deep financial losses for pig producers. This follows a declining trend in live pig prices in several major cities since the Chinese New Year.
Until mid-March, the price of piglets and finishing pigs at Xuzhou dropped 19 percent and 14 percent, respectively. As a result, the Chinese pig breeding industry is encountering a period of loss.
To boost its domestic pig industry, China’s ministry of industry released a development plan offering incentives and subsidies to boost meat supplies over the next 2 to 3 years in anticipation of rising pork demand. The aim is to have a total of 85 million metric tons of meat produced by 2015, which includes 53.6 million metric tons of pork.