you're reading...

China’s pork prices surge 47% in August amid swine fever outbreak

Tianjin Pig Farm

Tianjin Pig Farm

Pork prices in China soared 46.7% year-on-year in August, as the country faced rising shortage of the meat amid a swine fever outbreak which has killed millions of hogs.

That was a far bigger increase than July’s pork prices which jumped 27% from a year ago.

The surge in pork prices contributed to a 10% gain in food prices overall in August, according to data released by China’s National Bureau of Statistics on Tuesday.

As much as half of China’s hog population was estimated to have died from the protracted swine fever outbreak, which was discovered more than a year ago. China’s pig herd could halve by the end of this year, according to a July forecast by analysts at Dutch bank Rabobank.

Prices of other meats in China also rose in August, contributing to the jump in food prices. Beef, mutton and chicken prices were all up — between 11.6% and 12.5%.

Fresh fruit prices continued to increase in August, jumping 24% year-on-year, but saw a smaller increase than July’s roughly 39%.

Overall, the producer price index (PPI), a key barometer of corporate profitability, in August dropped 0.8% from a year earlier — the worst year-on-year contraction since August 2016.

The consumer price index (CPI) in August rose 2.8% on-year, unchanged from July. That compared with a 2.6% increase predicted by analysts.

Consumer prices in the country are set to go even higher, according to a Tuesday note from research firm Capital Economics.

“Consumer price inflation should accelerate in the coming months as pig stocks continue to fall and the drag from lower oil prices eases,” economists Julian Evans-Pritchard and Martin Rasmussen wrote in the note.

“But the upcoming (reserve requirement ratio) cuts announced last Friday are in line with our view that rampant food price inflation is not a barrier to monetary easing, and we continue to anticipate further loosening in the next few quarters,” they wrote.

They were referring to the Chinese central bank’s announcement on Friday that it was reducing the amount of funds that banks have to hold in reserve, as the country seeks to further stimulate its economy.

Source: CNBC – China’s pork prices surge 47% in August amid swine fever outbreak


About Craig Hill

General Manager at Craig Hill Training Services * Get an Australian diploma by studying in your own country * Get an Australian diploma using your overseas study and work experience * Diplomas can be used for work or study in Australia and other countries. * For more information go to


No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.


China News Stories

China News Stories is not affiliated in any way with any publication in China or anywhere else.

Enter your email address to receive an email each time an article is published, or join our RSS feed. 100% FREE.

Follow us on Twitter

Error: Twitter did not respond. Please wait a few minutes and refresh this page.

Want to write for China News Stories?

Read “Contributor Guidelines” above to join our team of 76 contributors. Write news or opinion about issues in China, or post photos and video. Promote your own site.

Recent Posts

China News Stories Have Been Featured In:

%d bloggers like this: