China’s pork prices up last week

Pork prices in China went up last week due to the drop in market supply, official data showed.

From June 20 to 24, the average pork price tracked by the Ministry of Agriculture and Rural Affairs was 22.84 yuan (about 3.41 U.S. dollars) per kg, up 5.4 percent week on week. The price was 31.6 percent higher than a year ago.

The ministry attributed the price rise to the decline of hog supply in the market. Hog stock of farmers declined in the northern part of the country during the period, while rainstorms in the south affected hog transport, it said.

China has introduced a three-level early-warning system to raise the alarm for excessive ups and downs in hog prices.

Livestock farms and households are advised to make reasonable decisions for production and operation to maintain the stability of hog production capacity.