Chinese Consumer Pork Prices Soaring

The National Bureau of Statistics of China Wednesday reported that pork prices in the nation have increased 69.3 percent, compared to last year while food prices as a whole there have increased by 8.4 percent since last year. African swine fever has taken a toll on pork production in China as experts believe the virus has wiped out as much as half of the nation’s pork herd.

Pork is a staple of the Chinese diet, and China is the top pork producing nation in the world. Reuters reports that Chinese importers recently made a record large weekly purchase of American pork last week, ahead of trade talks with the United States. The purchases included 18,800 metric tons of pork for shipment this year, and 123,300 metric tons of pork for shipment in 2020. Chinese imports of pork from all sources is up 43 percent this year compared to 2018.