Pork prices to stabilize in long term on fresh supplies

Rates set to taper down in China after year-end, festive demand, says expert

The prices of pork, which accounts for more than 60 percent of China's meat consumption, are expected to remain high for some time due to the busy sales season during the New Year's day and the Spring Festival, but will remain stable in the long term with little room for further growth, an industry expert said.

The average wholesale price of pork was 48 yuan ($6.9) per kilogram on Nov 15. That is down from 50 yuan per kg in the week earlier, but still higher by over 150 percent from a year ago, according to the Ministry of Agriculture.