China’s pork production reached 12.11 million tonnes in the third quarter, an increase of less than 1% year-on-year, official data showed on Monday, after farmers suffered heavy losses earlier this year.
Growth in China’s pork production, which has been increasing every quarter for the past two years, has slowed recently. That’s as some farmers scaled back their breeding herds in late 2021 and early this year after months of low hog prices and high feed prices.
Costs eroded profits. Still, pork production in the third quarter was slightly above his 12.02 million tonnes in the same period last year, Reuters calculated data from the National Bureau of Statistics showed. Q3 pork production typically exceeds 12 million tonnes.
Statistics Bureau data show that China’s pork production in the first nine months of this year reached 41.5 million tons, an increase of 5.9% over the same period last year. Pig prices have risen by more than 60% since mid-June, fueling consumer inflation and repeated market interventions by Beijing authorities. Some analysts say prices are rising rapidly as hog supplies are tight.
However, China’s leading national planner said the rise was a result of farmers refraining from slaughtering pigs in anticipation of higher prices. The data also show that the total pig population increased from 430.57 million at the end of June to 443.94 million at the end of September.
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