Chinese pork prices rose to a record high in August, forcing the government to use the nation's meat reserves for the first time this year to secure supplies for the holidays.

Last month, prices for pork in China increased on average by 22.5% compared to the same period in 2017. It came after the largest recorded month-over-month increase of 25.6% in July, when the CPI also reached a two-year high of 2.7%. Despite an unexpected drop in CPI inflation to 2.5%, August's increase nonetheless took place.

<a href="https://www.wionews.com/south-asia/chinese-built-lotus-tower-in-sri-lanka-all-set-to-open-this-week-515673">China</a> is the largest consumer of pork in the world, and as part of a crucial stabilisation strategy, the government of the nation keeps a frozen "reserve" supply in hand.

The authorities announced they were releasing some reserves for the first time before the mid-autumn festival last weekend and China's upcoming National Day on 1 October, as reported by the Guardian.&nbsp;

The government reserve is kept to assure supply and price stability, and the staple meat is the food item that <a href="https://www.wionews.com/videos/pessimism-over-german-economy-grows-recession-inevitable-for-germany-515794">economists</a> weight the most strongly when calculating the country's consumer price index. Following a nationwide outbreak of African swine disease in 2019, pork prices reached a record high.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/india-china-complete-disengagement-from-last-friction-point-in-eastern-ladakh-report-515819">India, China complete disengagement from last friction point in eastern Ladakh: Report</a>

High demand during the holiday season, high feed prices, and the lingering effects of the reduction in breeding stocks last year are all blamed for the latest increase. Some said that people were preparing more meals at home. Several Covid outbreaks have made it difficult for Chinese citizens to travel, and some had been placed in lockdown.

Additionally, several producers were charged with hoarding stock and causing a supply shortage.

The National Development and Reform Commission of China warned farmers in July against a "irrational reluctance to sell," warning that keeping pigs to fatten them up or wait for better prices could cause shortages in the short term but also result in a glut in the future.

An ongoing government "dynamic zero" <a href="https://www.wionews.com/trending/shashi-tharoor-loses-cool-as-tucker-carlson-says-britain-civilised-india-515842">Covid</a> policy, which has resulted in abrupt and arbitrary lockdowns or mobility restrictions across the nation, has severely harmed China's economy. The lockdowns were partly to blame for the slower increase in consumer prices last month, which occurred as food prices increased 6.1% on an annual basis in August after increasing 6.3% in July.

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Chinese pork prices rose to a record high in August, forcing the government to use the nation's meat reserves for the first time this year to secure supplies for the holidays.

Chinese pork prices rose to a record high in August, forcing the government to use the nation's meat reserves for the first time this year to secure supplies for the holidays. Last month, prices for pork in China increased on average by 22.5% compared to the same period in 2017. It came after the largest recorded month-over-month increase of 25.6% in July, when the CPI also reached a two-year high of 2.7%. Despite an unexpected drop in CPI inflation to 2.5%, August's increase nonetheless took place. China is the largest consumer of pork in the world, and as part of a crucial stabilisation strategy, the government of the nation keeps a frozen "reserve" supply in hand. The authorities announced they were releasing some reserves for the first time before the mid-autumn festival last weekend and China's upcoming National Day on 1 October, as reported by the Guardian. The government reserve is kept to assure supply and price stability, and the staple meat is the food item that economists weight the most strongly when calculating the country's consumer price index. Following a nationwide outbreak of African swine disease in 2019, pork prices reached a record high. Also read | India, China complete disengagement from last friction point in eastern Ladakh: Report High demand during the holiday season, high feed prices, and the lingering effects of the reduction in breeding stocks last year are all blamed for the latest increase. Some said that people were preparing more meals at home. Several Covid outbreaks have made it difficult for Chinese citizens to travel, and some had been placed in lockdown. Additionally, several producers were charged with hoarding stock and causing a supply shortage. The National Development and Reform Commission of China warned farmers in July against a "irrational reluctance to sell," warning that keeping pigs to fatten them up or wait for better prices could cause shortages in the short term but also result in a glut in the future. An ongoing government "dynamic zero" Covid policy, which has resulted in abrupt and arbitrary lockdowns or mobility restrictions across the nation, has severely harmed China's economy. The lockdowns were partly to blame for the slower increase in consumer prices last month, which occurred as food prices increased 6.1% on an annual basis in August after increasing 6.3% in July. WATCH WION live TV here:

Chinese pork prices hit an all-time high, spark government action

China's pork production fell for the seventh consecutive quarter in the April-June period in the aftermath of the effects of the deadly African swine fever that decimated the pig herd in the country.

Second-quarter pork output fell 4.7 per cent compared with the same period a year ago to 9.6 million tonnes. Data from the National Bureau of Statistics also showed a 19.1 per cent drop for the first six months of the year.

The first-half drop underlines the huge task China still faces in rebuilding its hog herd since African swine fever swept through the country's farms at the end of 2018. Some analysts believe the herd shrank by as much as 60 per cent.

China slaughtered 251.03 million hogs in the first six months of the year, the National Bureau of Statistics said - a 20 per cent drop from the same period a year earlier. 
Its pig herd fell 2.2 per cent year-on-year to 339.96 million head at end-June, but was up from 321.2 million at end of March.

In the first half, meat including pork, beef, mutton, and poultry output was 34.89 million tonnes, down 11 per cent year-on-year.

Pork output is set to fall by 20 per cent this year, according to Rabobank analysts. However, output should recover in due course with the sow herd growing. The statistics bureau said the sow herd at the end of June was 36.29 million head, up 5.4 per cent from prior year, and up 7.3 per cent from 33.81 million head at the end of March.

China's pork production fell for the seventh consecutive quarter in the April-June period in the aftermath of the effects of the deadly African swine fever that decimated the pig herd in the country.

China's pork production fell for the seventh consecutive quarter in the April-June period in the aftermath of the effects of the deadly African swine fever that decimated the pig herd in the country. Second-quarter pork output fell 4.7 per cent compared with the same period a year ago to 9.6 million tonnes. Data from the National Bureau of Statistics also showed a 19.1 per cent drop for the first six months of the year. The first-half drop underlines the huge task China still faces in rebuilding its hog herd since African swine fever swept through the country's farms at the end of 2018. Some analysts believe the herd shrank by as much as 60 per cent. China slaughtered 251.03 million hogs in the first six months of the year, the National Bureau of Statistics said - a 20 per cent drop from the same period a year earlier. Its pig herd fell 2.2 per cent year-on-year to 339.96 million head at end-June, but was up from 321.2 million at end of March. In the first half, meat including pork, beef, mutton, and poultry output was 34.89 million tonnes, down 11 per cent year-on-year. Pork output is set to fall by 20 per cent this year, according to Rabobank analysts. However, output should recover in due course with the sow herd growing. The statistics bureau said the sow herd at the end of June was 36.29 million head, up 5.4 per cent from prior year, and up 7.3 per cent from 33.81 million head at the end of March.

China's pork output slides for seventh straight quarter in view of African swine fever

Chinese companies have stopped buying US agricultural products, China's Commerce Ministry said on Tuesday (August 06), a blow to US farmers who have already seen their exports slashed by the more than year-old trade war.

US farmers suffer 'body blow' as China slams door on farm purchases

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Chinese pork prices hit an all-time high, spark government action

China's pork output slides for seventh straight quarter in view of African swine fever

US farmers suffer 'body blow' as China slams door on farm purchases