China pork price falls as world food leaps


Reuters and Eurus Yiu, The Standard (HK, China)

4 Jun 2021


World food prices rose in May at their fastest monthly rate in more than a decade but pork prices in mainland China dropped.


World food prices posted a 12th consecutive monthly increase to hit their highest level since September 2011, the United Nations food agency said.


On a year-on-year basis, prices were up 39.7 percent in May.


The agency also issued its first forecast for world cereal production in 2021, predicting output of nearly 2.821 billion tonnes - a new record and 1.9 percent up on 2020 levels.


Food prices in mainland China dropped 0.8 percent from a week ago, with pork prices falling 3.3 percent, said the Ministry of Commerce.


The wholesale price of pork was 24.71 yuan per kilogram, down 3.3 percent week-on-week...