China to keep pork meat supply despite swine fever outbreak
As stated by Tang Ke, official of the Ministry of Agriculture and Rural Affairs, hog production in the second half of the year will be guaranteed thanks to increased imports and domestic production.
Hog market supply will remain stable, Tang said, although he said prices will not taper off due to the international cost.
From January to May, China imported 658 236 tons of hog meat worth $1.19 billion, according to the General Customs Administration. Meanwhile, average pork price in wholesale market in June was ÂÑ 21.59 (about three US dollars) per kilogram in June, an increase of 29.8 percent per year, Tang said.
Since last quarter in 2018, China's hog production continued downgrading, mainly due to African swine fever outbreak, Tang stated.
According to a report by the Ministry of Agriculture with forecasts until 2028, China will acquire in 2019 only 1.7 million metric tons of hog meat, in other words, an increase of over 40 percent year on year.
As a result, hog meat costs will go up more than 40 percent in 2019 and hold this upward trend over next two years.
China is the world's major hog consumer and producer, represented by an industry that breeds a trillion animals. ■