atans1

Another headache for Xi

In China, Commodities on 16/08/2019 at 6:28 am

Eastern Europe sees sharp rise in swine fever outbreaks

Growing signs that devastating virus that has gripped Asia could hit Europe
FT headline

This reminded me that a few weeks Cranswick was the biggest riser in the FTSE 250 index after reporting that trading in the first quarter of the financial year had been encouraging.

It said Asian export revenues were strongly ahead of the corresponding period last year, reflecting increased demand from China following the widespread outbreak of Africa swine fever.

Well, the problems in Chinese pork production and the resulting inflation in pork prices is not good news for Xi.

China’s pork imports surged nearly 63% in May from the same month last year, customs data showed on Sunday, as the world’s top consumer of the meat stocked up on supplies ahead of an anticipated shortage.

….

China’s pork prices rose rapidly in the first-half of March, triggering large purchases of meat from overseas markets, including the United States.

Prices have since stabilised, with importers and traders saying demand in recent weeks for imported frozen pork has been very weak amid plentiful supplies of fresh pork from farmers slaughtering their herds as the disease reaches new areas.

Demand is likely to pick up again in coming months, however. Beijing said earlier this month that the country’s sow herd fell by 23.9% in May from a year earlier, a huge drop that will create a significant decline in output.

Analysts at Rabobank said in April that China’s pork output could fall to just 38 million tonnes in 2019, versus 54 million tonnes last year.

Imports would be capped at about 4 million tonnes, they said, based on available world supplies.

https://www.reuters.com/article/china-economy-trade-pork/corrected-chinas-pork-imports-surge-in-may-near-3-yr-high-idUSL4N23V0I2

Related posts:

China will eat & eat

Chinese zodiac’s animals: global distribution per capita

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: