Analysts see China's pig prices remaining high this year

 

China Global Television Network (CGTN), Beijing

11-Apr-2019

 

High pig prices has driven up the CPI in March as analysts forecast prices of live pigs and pork will remain high in the rest of this year, and might push up the food price and overall CPI further.

 

Evergrande Research Institute expects pig prices to keep rising in 2019, especially in the second half of year, specifically around the Mid-Autumn Festival, the National Day and other peak seasons. And the rising price would further drive the overall CPI.

 

Analysts from Huachuang Securities also bet on the increase of pig prices, and projected pork prices to increase 44 percent this year.

 

China remains the world's number one pig producer. Domestic consumption last year accounted for about half of the world's total consumption, and as the consumption of pork is relatively stable in the country, pig price is mainly affected by supply.

 

The African Swine Fever epidemic that began in the third quarter of 2018 has led to a sharp decline in the number of live pigs and a rise in prices. Changjiang Securities warned of inflation risks if the sharp contraction in supply continued.

 

But consumption remains...

 

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