Chinese pig prices rebound

Wednesday, 29 July 2020

By Felicity Rusk

Chinese prices for liveweight pigs have been moving up since mid-May. By 15 July, prices reached ¥36.86/kg, almost 30% more than at the 20 May. A lack of market-ready pigs on the domestic market has supported prices. This reduction in supplies is due to a combination of outbreaks of African Swine Fever (ASF) as well as flooding delaying slaughter in some regions.

 

Prices have also risen to reflect the additional biosecurity measures that China Customs have introduced following new cases of COVID-19. China customs now require a declaration from exporters that product is not contaminated with the coronavirus.

Following these outbreaks, China suspended shipments from a number of plants where staff were confirmed to have coronavirus, including some in Europe. Additionally, some exporters have voluntarily paused exports to the nation. It is unclear exactly how this situation will develop or resolve at present.

Chinese pig meat imports have continued to show considerable year-on-year growth this year. However, growth slowed a little in the second quarter of the year, with imports already picking up at this time in 2019, and some logistical challenges from exporting nations.

 

 

 

Felicity Rusk

Analyst - Livestock

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