Chinese consumers have been shocked by recent rises in the price of pork, the nation’s favorite meat, with policymakers also concerned about what impact its costliness will have on inflation and the economy. Pork prices surged more than 20 percent between March 20 and July 17 this year, according to data provided by the Ministry of Commerce. A significant reduction in the number of hogs available for slaughter and rising costs in feed and labor have caused the trend, according to analysts…Full Article: Xinhua July 2015
- China’s pork prices generally increase along with the country’s inflation rate. In this past, this “pork price cycle” has typically occured every three to four years. Prices also vary according to the time of the year, with prices dipping during fall and winter months.
- The price of food comprises roughly one-third of China’s Consumer Price Index (CPI), while pork accounts for nearly 3% of China’s CPI.
- From January 2010 to July 2015, China’s pork prices increased from US$2,890 per MT to US$4,550. Prices peaked at an average of US$4,738 from July to October 2011, and reached a low average of US$2,460 April to June 2010.
- China’s CPI (2010 as the base year, 2010=100) increased from 105.4 in 2011 to 111 in 2013.