Friday, 5 June 2020
Although China appears to have the worst of the coronavirus outbreak behind it, the underlying supply shortage caused by African Swine Fever remains.
Chinese pork production in 2020 is forecast to be lower still than in 2019, although some reports suggest that it may now have passed the lowest point. The road to rebuilding the industry will be a long one, and the country’s appetite for imported product is likely to remain for some time to come.
However, the dramatic increase in demand for imported pork this year has not led to further increases in pork prices, either at the wholesale level or in import prices. Chinese wholesale pork prices, and the price of live pigs, have both been falling in recent weeks. Timely withdrawals from strategic stores of pork have been used to balance supply and demand.
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