China’s major hog farmers posted sharp rise in hog prices in Sept, most saw revenue surge
China’s major hog farmers posted sharp rise in hog prices in Sept, most saw revenue surge

China’s major hog farmers posted sharp rise in hog prices in Sept, most saw revenue surge

 

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China’s five major hog farmers – Zhengbang Group, Wens Foodstuff Group, Muyuan Foods Co, New Hope Group and Tech-Bank Food Co – have posted sharp rise in hog prices.

The five companies’ average selling price of pork surged by over 80% in September from a year earlier, with Muyuan Foods recording the highest increase at 100.7%. 

Pork prices saw a continuous increase during the weeklong National Day holidays from October 1 to 7, with the national average price rising nearly two yuan ($0.28) per kilogram, driven by consumption enthusiasm and the reduced market supply.

Four for the five companies saw year-on-year revenue growth except Zhengbang Group. Muyuan Foods recorded the largest year-on-year increase of 180.2%, and New Hope Group saw its largest monthly growth at 37.85%. Zhengbang Group said the revenue plunge was due to company’s capacity reduction and marketing adjustment.