In this file:

 

·         China consumer inflation in May rises to 15-month high; food prices spike 7.7% as cost of pork rose

… Pork prices in China have been persistently high this year as African swine fever hit hog herds in the country. Pork prices rose 18.2% from a year ago in May, the statistics bureau said…

 

·         ‘Pigageddon’ sees Chinese pork prices surge

… Up to 200 million pigs could die, or be culled, in China this year after contracting African swine fever.  If that happens, pork prices could soar by 70%, according to a senior Chinese official who declined to be named…

 

 

 

China consumer inflation in May rises to 15-month high; food prices spike 7.7% as cost of pork rose

 

    China’s consumer price index (CPI) in May rose 2.7% from a year ago, the highest since February 2018.

    China’s producer price inflation (PPI) rose 0.6% in May from a year ago, in line with economists’ expectations.

    Food prices rose 7.7% in May from a year ago, while non-food prices rose 1.7% on-year.

 

Huileng Tan, CNBC

Jun 11 2019

 

China’s consumer inflation in May rose to the highest in 15 months, as food prices spiked due to persistently high pork prices, the National Bureau of Statistics data showed on Wednesday.

 

Consumer price index (CPI) in May rose 2.7% from a year ago, the highest since February last year and in line with expectations of economists’ polled by Reuters.

 

Food prices rose 7.7% in May from a year ago, while non-food prices rose 1.7% on-year. Fresh fruit prices in particular soared 26.7% in May from a year ago due to weather-related factors. They were up 14.8% from April.

 

Pork prices in China have been persistently high this year as African swine fever hit hog herds in the country. Pork prices rose 18.2% from a year ago in May, the statistics bureau said.

 

While Chinese diners — who account for half of the world’s pork consumption — may get upset about higher prices, the development is not an something that would cause wider market panic, said Bo Zhuang, chief China economist at TS Lombard.

 

“Chinese pork prices have been on a roller-coaster for the last decade,” Zhuang told CNBC.

 

The Chinese government said earlier this year that Chinese pork prices are expected to jump more than 70% from a year ago.

 

However, that scenario is not unheard of as pork prices used to jump 50% to 60% a few years ago, so consumers will simply switch to other meat like chicken, beef or button, said Zhuang.

 

Meanwhile, producer price inflation (PPI) — a gauge of industrial profitability — rose...

 

more, including links

https://www.cnbc.com/2019/06/12/china-inflation-may-ppi-cpi-as-us-tariffs-hit-food-prices-spike.html

 

 

‘Pigageddon’ sees Chinese pork prices surge

African swine fever epidemic spurs a jump in food inflation, official figures reveal

 

By Asia Times

June 12, 2019

 

Hog hell forced up retail inflation in China last month as pork prices surged by 18% on the back of an African swine fever epidemic in the world’s second-largest economy.

 

Data from the National Bureau of Statistics showed that the Consumer Price Index, or CPI, hit 2.7% in May, the highest level in more than a year.

 

Overall food prices jumped by 7.7% last month compared to the same period in 2018.

 

Crop failure due to unseasonal weather also hit fresh fruit stocks with costs soaring by 26.7% from 14.8% in April.

 

“While Chinese diners, who account for half of the world’s pork consumption, may get upset about higher prices, the development is not a something that would cause wider market panic,” Bo Zhuang, the chief China economist at TS Lombard, told CNBC news.

 

“Pork prices have been on a roller-coaster for the last decade,” Zhuang added.

 

Domestic demand

 

As for the broader producer price index, or PPI, it edged lower at 0.6% in May from 0.9% compared to the previous month.

 

Recognized as an important indicator of domestic demand, analysts at Nomura reported that economic “growth could slow further on escalating US-China trade tensions.”

 

“We expect Beijing to undertake further easing [or] stimulus measures to bolster confidence and to stabilize growth,” they added in a note.

 

Still, it was the rise in pork prices which grabbed the headlines.

 

Up to 200 million pigs could die, or be culled, in China this year after contracting African swine fever.

 

If that happens, pork prices could soar by 70%, according to a senior Chinese official who declined to be named.

 

In March, a report by Nomura backed up that assessment. The Japanese bank warned that prices could rise to 33 yuan (US$4.90) per kilogram by January 2020 from February’s figure of 18.5 yuan-per-kilogram. That would represent a 78% price hike.

 

“Despite the rise in pork prices, pig farmers may be reluctant to increase hog stocks on concerns about [African swine fever],” Nomura’s analysts said in the study.

 

“In this regard, the upturn of the hog cycle could last longer and drive pork prices higher than in previous hog cycles,” they added.

 

Highly contagious ...

 

Food chain ...

 

more, including links, outbreak map

https://www.asiatimes.com/2019/06/article/pigageddon-sees-chinese-pork-prices-surge/