Data from the Ministry of Agriculture and Rural Affairs showed that wholesale prices of agricultural products in China fell during the week of September 8-14.
During the same period, the wholesale price index for agricultural products recorded 121.26 points, a decrease of 0.76 percentage points from the previous week, an annual decrease of 9.48 percentage points, according to the same ministry.
The average wholesale price of pork, which is widely consumed in China, fell 0.8% year-on-year to 22.41 yuan (2.88 euros) per kilogram, down 26% year-on-year.
China has begun to prioritize domestic meat production
China is the main pork exporting country in the European Union
China recently announced that it wants to be almost completely self-sufficient in pork production, which means it will continue to import large amounts of grains and soybeans to be able to feed and increase its pig population. The self-sufficiency targets announced by the Chinese government are part of a series of measures to ensure stable meat supplies and prices.
Thus, feed imports are expected to remain high for the foreseeable future as China begins to prioritize domestic meat production. The country, which consumes half of the world’s pork, aims to produce 95% of the local market by 2025.
It is noteworthy that the African swine fever epidemic about four years ago led to a decrease in livestock in China by 50% and caused an increase in meat imports and record pork prices.
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