China's pork prices finally rising this year

The wholesale pork price has been continuously rising for the last 6 weeks after its 15-week decline that started at the beginning of the year.

From the time of the Spring Festival in January until May the pork wholesale market price fell, largely due to the recovering pig production capacity and the slow recovery of consumption following the COVID-19 epidemic. This period represented a continuous, 15-week decline with the average weekly price falling to 38.71 yuan per kilogram, a cumulative decrease of 22.9%.

Since June, as the catering industry resumed operations and factories resumed work following COVID-19 restrictions, pork consumption has increased significantly and prices began to rebound. In the 28th week of 2020 (July 6-12), the average wholesale price of pork was 47.73 yuan per kilogram. The price rose by 4.0% month-on-month and 105.0% year-on-year. The month-on-month price has risen for 6 consecutive weeks, with a cumulative increase of about 9.02 yuan per kilogram.

July 16, 2020/ Ministry of Agriculture and Rural Affairs/ China.
http://www.moa.gov.cn/

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December 2019 data not available. Source: MARA

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