China's pork imports up 130 pc amid sizzling prices
China's imports of pork, the country's staple meat, more than doubled in the first seven months this year as prices of domestically produced pork sizzled and supply dwindled, latest customs statistics said.
By PTI |
BEIJING: China's imports of pork, the country's staple meat, more than doubled in the first seven months this year as prices of domestically produced pork sizzled and supply dwindled, latest customs statistics said.
Pork imports in the first seven months jumped 130 per cent from the same period a year ago to 30,000 tonnes, with a value of $28.8 million, up 140 per cent.
Meanwhile, the country's pork exports dropped 39.7 per cent to 95,000 tonnes, worth $180 million.
The rising imports resulted from price hikes triggered by rising production costs, the outbreak of blue-ear pig disease and farmers' reluctance to raise pigs, officials from the General Administration of Customs said.
All the imports in the January-July period were from the European Union, Canada and the United States, while 92.3 per cent of the exports went to other Asian countries.
The retail price of pork in China soared 77.6 per cent in August from the same month a year ago though it began to fall in the middle of the month, according to the National Development and Reform Commission, the top planning body.
The sharp rise in pork prices and the ensuing hikes in other foodstuffs pushed up the consumer price index, China's key gauge of inflation, to an 11-year-high of 6.5 per cent in August.
Pork imports in the first seven months jumped 130 per cent from the same period a year ago to 30,000 tonnes, with a value of $28.8 million, up 140 per cent.
Meanwhile, the country's pork exports dropped 39.7 per cent to 95,000 tonnes, worth $180 million.
The rising imports resulted from price hikes triggered by rising production costs, the outbreak of blue-ear pig disease and farmers' reluctance to raise pigs, officials from the General Administration of Customs said.
All the imports in the January-July period were from the European Union, Canada and the United States, while 92.3 per cent of the exports went to other Asian countries.
The retail price of pork in China soared 77.6 per cent in August from the same month a year ago though it began to fall in the middle of the month, according to the National Development and Reform Commission, the top planning body.
ADVERTISEMENT
The sharp rise in pork prices and the ensuing hikes in other foodstuffs pushed up the consumer price index, China's key gauge of inflation, to an 11-year-high of 6.5 per cent in August.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
