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It’s predicted that China’s imports of pork will decrease and domestic hog price will rise

China Agriculture Report By CnAgri2017-08-09 09:22:35China Agriculture Report Print
Under the influence of domestic growth in pork output, hog price decline and the growth in international hog price in the first half of 2017, China’s import growth has significantly slowed down. In the first half of 2017, China accumulatively imported 662,400 tons pork, decreasing 100,000 tons from the previous year, reaching a year-on-year decrease of 13.12%. It’s predicted that pork imports will decrease continuously later.
Data from the Bureau of Statistics show that China slaughtered 322 million hogs in the first half of 2017, up 0.4% year on year; pork production was 24.93 million tons, up 0.8% year on year. China’s average production of hog per head saw obvious growth, and domestic pork production will realize restorative growth.
There’s a narrowing difference between domestic pork price and foreign pork price in the first half of 2017. The difference has dropped to 1.48yuan/kg in June from 5.15yuan/kg in January.
Monthly imports of pork was decreasing in January with a growth rate of -1.41%. Pork imports decreased sharply with growth rate of -14.16% in April and -24.72% in June.
Currently, China’s pork output has realized restorative growth, at the same time, hog price is increasing in exporters like EU and the USA, it’s predicted that pork imports may further decrease, which is good for the rise of domestic hog price, but the growth space is limited.

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