Pig prices in China soaring as ASF hits production
12th Mar 2019 / By Alistair Driver
Chinese pig prices are rising rapidly as African swine fever takes its toll on production within the world's largest pig herd.
Prices reached their highest levels in 14 months on Monday and look set to keep rising after weeks of gains, according to the Reuters news agency.
Live hog prices in major consumption and production areas were up by 7% on average on Monday compared with last Friday to 15.09 yuan ($2.24) per kilogram, according to data provided by consultancy China-America Commodity Data Analytics. Even though demand is typically weak at this time of year, prices across the country have increased by almost 20% since early March, the report added.
“The main reason (for rising prices) is there are fewer pigs,” said Yao Guiling, analyst with China-America Commodity Data Analytics.