Chinese pork imports could reach a record of more than one million metric tons this year in the country that consumes around half of global pork supplies. The new prediction by industry leaders marks a 28 percent increase in pork imports into China. Reuters reports the increase will challenge Japan’s status as the top importer of pork for the first time. The export business is expected to benefit countries such as the United States, Germany, and Brazil. Millions of small pig farms in China are exiting the industry and prolonging an industry downturn, thus curbing China’s ability to rebuild breeding herds following two years of low prices and tough new environmental rules. China’s pork industry regularly experiences boom-and-bust periods with small farmers, who account for half of the country’s 54 million metric tons of annual output, traditionally quick to respond to any price changes.
Source: NAFB News Service