China's pork prices are being kept in check even as pig production continue...
BEIJING - China’s pork prices are being kept in check even as pig production continues to drop, with tough new rules on slaughterhouses crimping trade and pushing frozen pork stocks onto the market, according to analysts.
The prices leveled off in mid-March, however, and in many areas have declined in May, confounding anticipation of a rapid rise in pork prices after widespread culling.. African swine fever does not harm people but to help curb spread of the disease, the Ministry of Agriculture and Rural Affairs on March 15 ordered slaughterhouses to test each batch of hogs for the virus.
A follow-up order from the agriculture ministry in early April, outlining requirements on traceability and inspections in processors has further dampened trade, Feng said. An official at a major frozen foods company told Reuters that the firm had reduced its use of local pork after one of its products was found in January to contain the virus.
The additional supplies will help ease costs when live pig prices start to rise later this year, said the company. WH Group declined to comment on whether it had sold off some of these stocks ahead of the slaughterhouse rules.
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