China sets pork production records

In the second quarter of 2021, the volume of pork production in China amounted to 13.46 million tons, which is 40% more than the same period last year, according to official data. This is the highest pork production in the country in at least seven years, Reuters reported.

China's National Bureau of Statistics also reported that from January to June 2021, the country's pork production increased by 35.9% to 27.15 million tons. The surge in pork production is due to large Chinese agribusinesses investing billions of yuan in new farms during 2020 in an attempt to grab market share following the African swine fever epidemic.

A report from Boya Consulting, citing data from 16 registered pig producers, said they sold 42.8 million heads for slaughter, double the number a year earlier. The rise is also linked to a 65% drop in the price of live pigs recorded between January and June, Reuters notes. One of China's leading pig producers, Jiangxi Zhengbang Technology Co Ltd, has already said its first-half losses amounted to 1.45 billion yuan (about 16.6 billion rubles) due to this price pressure.

Pork is the most popular meat in China. Its cost is a key component of the consumer inflation index in the country.

Pork production in Russia

Within the first quarter of 2021, the country produced 1.3 million tonnes of pork in live weight. This is 0.3% more than in the same period last year. And just last year, the volume of production of this type of meat amounted to 5.5 million tons. The Ministry of Agriculture predicts that by the end of this year, pork production will grow by 4%.

SOURCE: Sfera FM