African swine fever damaged supply so much that even with lower demand, pork prices are still twice what they were two years ago, according to Richard Herzfelder, senior advisor at GIRA Consultancy & Research.
Pork exporters to China are set to gain a "huge advantage" as the gap in pork production caused by African swine fever is likely to continue for "the next year or two," according to an analyst.
"The exporters are really in good shape because the hole in the Chinese production is so large because of African swine fever that if you have meat anywhere in the world, the Chinese want to buy it," said Richard Herzfelder, senior advisor at GIRA Consultancy & Research. Currently, 20 overseas markets, including the U.S., Canada and the European Union, are approved for exports of pork to China, according to U.S. Department of AgricultureThe infectious swine disease has damaged and reduced the domestic supply of pork so much that, even with Covid-19 hurting demand, pork prices are still twice what they were two years ago, Herzfelder told CNBC's "Street Signs Asia" on Wednesday.
The outbreak of African swine fever, first reported in China in August 2018, has wiped out Chinese hog herds, leading the world's largest pork producer and consumer to ramp up imports as
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