China’s pork prices continued to rise last week
China’s pork prices continued to rise last week

China’s pork prices continued to rise last week

 

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China’s average wholesale pork price stood at 31.08 yuan per kg on Friday, rising by 1.2% from the 30.7 yuan per kg a week earlier, according to the data from the Ministry of Agriculture and Rural Affaires.

The average price last week stood at 30.99 yuan per kg, up 0.65% from the average price of 30.79 yuan per kg in the previous week, showed the data.

Separate data from hog farming industry consultancy Zhuwang, live hog price stood at 24.29 yuan per kg on Friday, up 2.97% from the 23.59 yuan per kg a week earlier. The average live hog price in the week was 24.12 yuan per kg, rising by 2.1% from the average price of 23.62 yuan per kg in the previous week, showed the data.

Earlier data released by the state planner NDRC showed that China’s live hog prices have been fluctuating between 22 – 24 yuan per kg recently, a high levels compared to previous years, and the hog to grain price ratio, a key measure of hog breeders’ profitability, stood at 8.38 : 1, closing to the upper end of the reasonable range of 6:1 – 9:1.