Chinese Pig Herds Drop as Pork Prices Rise
China's pig herd marks another record drop as African Swine Fever continues to have a substantial impact.
Reuters reports the herd fell by almost 39-percent in August compared to last year's decline of 37-percent. Pork prices have jumped by 78-percent compared to the same period a year ago driving the country's 'food price index' to the highest since January of 2012. China has reported more than 140 outbreaks across all provinces and has started to import more pork from the U.S and Brazil as the country plans for a potential pork shortage.
In an effort to boost Chinese pork production, the government announces it will help revive hog production, prevent and control African Swine Fever, and upgrade farms to ensure stable prices. China's Ministry Of Agriculture & Rural Affairs says the price of pork will continue to rise for at least another six months.