Article Image

IPFS News Link • China

Chinese Piglet Prices Hit Record High On Virus Disruptions

• https://www.zerohedge.com, by Tyler Durden

 Farmers have been attempting to rebuild their herds as supplies remain tight after African swine fever decimated 40% of the country's pig supply in 2019. 

Chinese spot prices for piglets jumped to a record high of 126 yuan ($18.11) per kilogram last week, nearly a 600% increase since the start of 2019. The latest surge in prices was attributed to supply chain disruptions as transportation networks across China remained closed due to virus containment measures, which prevented farmers from shipping piglets to meat markets, said Financial Times. 

The virus crisis complicates things for Beijing, who has attempted to arrest soaring food inflation via the release of thousands of tons of pork from state reserves. However, with quarantines still in effect across the country, this has prevented farmers from expanding herds and supplying local markets. 

"The record price is because of scarce supplies of piglets," Lin Guofa, senior analyst at Bric Agriculture Group, a Beijing-based agriculture consulting firm, told Bloomberg

Yang Zhenhai, the head of the ministry's animal husbandry bureau, told reporters last week that a shortage in pigs across the country has been due to lack of creating new pig farms, restocking herds, and the ability to transport animals to markets following the virus outbreak.


musicandsky.com/ref/240/