Chinese consumers saw some relief from skyrocketing pork prices in China, as the cost of pork receded last week. Although this brought some relief to consumers, it’s still too early to claim that pork prices will continue to fall and stabilize.
China Daily reports that this is a sign that efforts by the regulatory authorities to stabilize pork prices are starting to bear fruit.
China’s pork imports in October doubled from last October, customs data showed on Saturday. Wholesalers stocked up on pork supplies as African swine fever (ASF) continues to devastate the world’s largest pork-producing country.
October arrivals finished at 177,426 metric tons, up from the previous month’s 161,836 metric tons, Reuters reports.
For the first 10 months of the year, pork imports stood at 1.5 million metric tons, a 49.4% increase from the corresponding period a year ago, Reuters reports. This data is for muscle cuts only and does not include offal and other non-muscle parts known as ‘variety meats.’
As ASF continues to decimate China’s pig herd, the country is looking for more protein and is opening up its market to new protein sources, with recent approvals of new pork processing plants in Argentina and Brazil.
Other proteins are benefiting from the meat shortage, Reuters reports. October beef imports came in at 150,829 metric tons, a 63.2% increase from a year ago. For the first 10 months, beef imports were 1.28 million metric tons, nearly a 55% jump from a year ago. Chicken imports are also up 64% on the year.
ASF is a deadly disease of pigs that does not impact humans and poses no food safety risks. For more information on the spread of ASF, visit porkbusiness.com/ASF.
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