Major Chinese listed pork giants see revenue increase in Sep, with average prices up over 80% year on year.

On Monday, China’s five major pork and pork companies all released their monthly reports for September, revealing a surge in earnings for four major companies and higher average prices for all five, it said.

The five companies are Zhengbang Group, Hot Food Group, Mu Yuan Food, New Hope Group, and Tech Bank Food.

According to monthly reports, the five companies’ average selling prices of pork rose by more than 80% year-on-year, with Muyuan Foods recording his highest rise of 100.7%.

Wens Groups said in its report that the year-on-year increase in selling prices is related to changes in the live pig market.

During the week-long National Day holiday from October 1 to October 7, pork prices rose steadily, with consumer enthusiasm and reduced market supply driving the national average price to about 2 per kilogram.

Analysts have suggested that higher pork prices could lead to a slight increase in the national consumer price index (CPI). A higher selling price usually leads to a higher income. In September, four companies, excluding Zhengbang Group, recorded year-on-year revenue growth. Muyuan Foods recorded the largest year-on-year increase among its peers at 180.2%, while New Hope Group recorded the largest monthly growth rate at his 37.85%.

Zhengbang Group said the weak revenue was due to the company’s capacity cuts and marketing adjustments.

The National Development and Reform Commission (NDRC) said on Sunday it would launch a fifth batch of frozen pork to stabilize soaring prices. The NDRC released its fourth batch of frozen pork over the National Day holiday.

Source: The Pig Site