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Pig prices increase by over 60%

CCTV.com

04-05-2016 16:34 BJT

If you're thinking of giving up pork chops because of the prices you're not alone this year, pork inflation has come earlier.  Usually the months after Chinese New Year are generally a low season for pork consumption. But pork prices have shot up in recent weeks as the cost of live pigs waddled to a historical high in March. 

Live pig prices started to climb at the beginning of the year. Prices increased to nearly 20 yuan per kilo on March 22nd. That's the highest level since 2011, and up more than 60 percent from the same period last year. The price of a 40-kilo piglet has ballooned from less than 300 yuan last year to more than a thousand yuan now because of high demand.

Many pig farmers are increasing their litters in hopes of making a fortune despite the high prices.

But analysts say risks exist for the pig farmers.

Many farmers are increasing their sow numbers because of the high piglet prices. And analysts say there will be an oversupply in half a year if farmers keep increasing their sow feeding. Pig prices will possibly slump in the next year as a result.

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