Pork is picking up the pace

Chinese pork prices have finally picked up the pace through the spring and into summer – a growth spurred by tighter pig supplies and stronger consumer demand. Now, authorities are encouraging producers to maintain production and release stocks in an attempt to curb price inflation.

• Demand is still affected by the uncertainty of the COVID-19 situation, as restrictions remain in certain parts of the country.

The Chinese government recently announced that pork brought into storage would be released into the market in September in time for heightened demand from autumn festivals. 

• Chinese pig production increased during the first half of 2022, while the import volumes during the second quarter were much lower than previous years (read more about it here).
• Despite the fact that all main suppliers have sent fewer imports to China, the situation is expected to improve somewhere in the second half of the year, as consumer demand improves, and higher domestic prices encourage imports. Nevertheless, import demand is expected to stay significantly lower than in 2021.