China’s pig numbers rise but supplies still tight before Lunar New Year holiday, agriculture ministry says
- National herd grows by 2 per cent as authorities under pressure to ensure there is enough pork for the holiday
China’s pig herd increased by 2 per cent in November compared with the previous month, the agriculture ministry said on Monday, the first increase in a year.
Sow stocks were up 4 per cent on October, said the Ministry of Agriculture and Rural Affairs on its website, the second consecutive month of a rise in the breeding herd inventory.
While some analysts have described official numbers as conservative, the ministry figures would still equate to a decline of around 175 million pigs in the national herd.
Dutch firm Rabobank has estimated the herd will be 55 per cent smaller by the end of this year, while others in the industry believe it could be even smaller.
Pork prices have surged to record levels, pushing consumer inflation in China to the highest level in almost eight years, and putting Beijing under growing pressure to ensure supplies ahead of important upcoming holidays.