China records highest pork production in three years after restocking
Photo is illustrative in nature. From open sources.
China's third-quarter pork production rose to its highest level in three years, according to official data released on October 18.
REUTERS reports that the surge in pork production came after producers built thousands of large breeding farms in 2020 to rebuild the nation's pig herd, which has been decimated by recurring outbreaks of African swine fever since 2018.
Pork production from July to September was 12.02 million tons, up 43% from a year earlier, according to Reuters calculations based on official data, and the highest since the third quarter of 2018, before CHINA began to feel the effects. swine fever.
China's pork production in the first three quarters of 2021 jumped 38% from a year earlier to 39.17 million tons, according to the Bureau of Statistics. The third quarter, however, showed lower production than the 13.46 million tonnes in the second quarter, contrary to some analysts' expectations.
The increase in pork production was driven by major producers who invested billions of yuan in new farms during 2020 in an attempt to capture market share in the wake of the swine fever epidemic. But this year, prices have fallen by 65%, prompting some farmers to sell their herds and go out of business, while others have seized the opportunity to get rid of less productive sows.
According to data released earlier by the Ministry of Agriculture and Rural Affairs, China's sow herd decreased by 0.5% in July compared to June and another 0.9% in August compared to the previous month.
In the second quarter, many small producers still had hope for a recovery in prices. But by the third quarter, losses soared and forced many to shut down production. Some lost as much as 1,000 yuan ( $ 155.32 ) per pig last month when live pig prices fell to 11 yuan per kilogram. Prices are currently 13.08 yuan.
The Bureau of Statistics said China's pig population dropped to 437.64 million at the end of September from 439.11 million at the end of June. China sent 491.93 million pigs for slaughter in the first nine months of the year, up 35.9% from a year earlier.
(1 US DOLLAR = 6.4383 Chinese yuan)
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