The country that consumes the most amount of pork in the world is having a hard time swallowing the fact that the price of the popular white meat is 88% higher than what it was in October 2021.
According to the latest data, pork prices in China went up week on week, from Oct. 3 to 9, the average pork price tracked by the Ministry of Agriculture and Rural Affairs was 32.82 yuan (about 4.62 U.S. dollars) per kg, up 3.9 percent week on week. The price is said to be 88.3 percent higher than a year ago.
In response to the situation, the Chinese authorities said they would release the fifth batch of pork into the market from central reserves to maintain supply and price stability, as mentioned by the country’s top economic planner.
The price of hogs has been running at a relatively high level recently, according to the National Development and Reform Commission (NDRC). It said domestic production capacity is generally reasonable and abundant, hence the price of hogs does not have a basis for sustained hikes.
