China’s pork prices are likely to climb in 2019 due to tight supply caused by the further spread of African swine fever, an official at the National Development and Reform Commission said in remarks published on Sunday, according to Reuters.
“If the outbreak of African swine fever can’t be effectively controlled or even further spreads after the Chinese New Year, pork will be in short supply as farmers won’t be willing to replenish their herds,” Lu Yanchun, head of the prices monitoring center at the state planner, was quoted as saying by Chinese financial publication Caixin.
Pork prices might see a big jump in the summer or the second half of next year, Lu added.
China has reported more than 80 outbreaks of African swine fever across the country.
The highly contagious disease is still spreading, reaching to the northwestern province of Qinghai last week.
The news agency reported earlier that China may soon buy pork for its state reserves to support farmers struggling to sell their pigs due to the outbreak.
China’s consumer prices may rise 2.1-2.2 per cent in 2018 while producer prices could rise around 3.5 per cent, Lu was quoted as saying.
Rising pork prices could push up consumer prices in 2019, while trade frictions with the United States could create downward pressure on domestic prices, Lu added.