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China’s Q3 Pork Output Growth Slows as Farmers Reduce Breeding Herds By Stocksak

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© Stocksak. FILEPHOTO: A customer buys pork from a meat stand at a morning marketplace in Beijing, China, January 14, 2022. Picture taken January 14, 20,22. REUTERS/Tingshu Wang

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BEIJING (Stocksak), – China’s third quarter pork output was 12.11 million tonnes. This is a decrease of less than 1% from the previous year, according to official data. This highlights the impact on production after farmers suffered huge losses earlier in this year.

Since increasing each quarter year-on year for the past two years, China’s pork production has been slowing. This is because some farmers have reduced their breeding herds in 2021 and earlier this season after months of low hog prices.

Stocksak calculations based on data from the National Bureau of Statistics revealed that the third quarter pork production was still slightly higher than 12.02 million tonnes produced in the same period last year.

The average pork production in the third quarter is more than 12 million tonnes.

The first nine months of this year saw China’s pork production reach 41.5 million tonnes, an increase of 5.9% over the previous year, according to statistics bureau data.

Hog prices have risen more than 60% since June’s middle, pushing up consumer inflation and prompting repeated market interventions by Beijing authorities.

Analysts believe that the rapid rise of prices is due to a tighter supply of hogs.

China’s powerful state planner said that the rally was caused by farmers holding back pigs for slaughter while they wait for higher prices. Meanwhile, others are trying to make a profit by raising pigs to higher weights.

The total pig population grew to 443.94million heads at the end September, up from 430.57 millions at the end June.

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Stocksak Editorial

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