Pork price increase won’t trigger inflation in China
Pork prices are not expected to reach year's high unless swine are culled due to another disease outbreak.
Economists and industry analysts in China have said the rise in pork prices over the past 13 weeks will not trigger inflation, the ChinaDaily reported.
President of the Association of Pig Producers of Shaxian County, Huang Yunhua, said pork prices will not reach last year's high unless swine are culled because of the outbreak of a new disease.
Prices rose in the last three months after the government began stockpiling frozen pork to stabilize prices which had fallen steeply between March and June due to oversupply and fear that H1N1 was connected with pork products.
Data from the Ministry of Agriculture at the end of June reported that China had 450 million live hogs, including 48 million sows. This is compared to 410 million live hogs, including 41 million sows, required to balance the pork consumption market.