As Chinese pork prices rise – sales fall
In many cities throughout China the price of pork has hit a new high resulting in fewer people buying pork.
The price increase is due to the decrease in the number of pigs available on the market plus the rise in corn prices. According to analysts this price hike will not last long.
Zhang Zhiqiang from the Jinan pricing administration was quoted as saying that in two to three months more pigs will be ready to go on the market.
In Qingdao in East China’s Shandong Province pork prices have been adjusted at least four times this month. Prices have increased by 20% over a two week period to a record 21 yuan ($2.74) a kilogramme.
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