According to data released by Chinese officials yesterday, in the first nine months of this year, China's domestic pork production fell by 17.2% to 31.81 million tons compared with the same period last year.
According to data released by the National Bureau of Statistics of China on October 15, the CPI in September rose by 3% year-on-year. Among them, food prices rose by 11.2%, pork prices soared by 69.3%, affecting CPI rose by about 1.65 percent.
Chinese pork prices are expected to rise further during the Spring Festival in January next year. This decline may continue to drive the world's largest pork consumer to increase pork imports, especially from the United States.
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