The price of pork in China dropped 0.2 percent due to an increase in supply
last week, the Ministry of Commerce announced on Wednesday.
According to a statement from the ministry, the price index of agricultural
products stood at 110.2 points last week, up 0.1 percent on the previous week.
The prices of food products, cooking oil, processed chicken and eggs went up
while those of pork, vegetables, fruits and sugar dropped. The price of aquatic
products remained stable, said the statement.
statement said that despite a rise in supply the price of eggs would keep going
up because of feed price hikes while the price of pork would become stable.
The prices of pork and eggs have soared recently on Chinese market due
largely to tight supply and increased production costs.
According to the Ministry of Agriculture, in April baby pigs nationwide were
priced 71.3 percent higher than a year earlier, live pigs, 45.2 percent higher,
and pork 29.3 percent higher.
The price hikes were caused by a marginal decline in the pig
population this year as pig raisers produced losses over the past couple years and were
reluctant to raise pigs, said Xu Lianzhong, a senior economist with the price
supervision center under the National Development and Reform Commission.
The outbreak of blue ear disease, also known as Porcine Reproductive and
Respiratory Syndrome (PRRS), which caused pig deaths and culling was an
immediate cause of the short supply, said Xu.