https://www.scmp.com/rss/502606/feed African swine fever was first detected in China in August 2018, near its border with Russia, eventually spread to all 31 mainland provinces, municipalities and autonomous regions in less than nine months. This led to a mass culling of livestock that surpassed 100 million pigs and a significant jump in the price of pork, close to a 50 per cent increase in some cases. The trade war with the United States limited replacement options from the American agriculture industry due to higher tariffs. In... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Xinyi Wu Xinyi Wu China’s pig prices have plunged to their lowest level in nearly eight years, as the country struggles to deal with a persistent supply glut triggered by the spread of huge industrial farms and a post-holiday drop in meat consumption. Live pigs were selling for 11.05 yuan (US$1.60) per kilogram on average during the third week of March, down 2.9 per cent from the previous week and 28 per cent from a year earlier, data from China’s Ministry of Agriculture and Rural Affairs showed. Prices are now... https://www.scmp.com/economy/china-economy/article/3348423/chinas-massive-pig-farms-spark-supply-glut-hog-prices-hit-8-year-low?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348423/chinas-massive-pig-farms-spark-supply-glut-hog-prices-hit-8-year-low?utm_source=rss_feed Mon, 30 Mar 2026 11:30:08 +0000 He Huifeng He Huifeng China’s national breeding sow inventory will be reduced by 1 million from the current level of 40.38 million to ease an oversupply of pork in the market that has suppressed swine prices and raised deflationary pressures in the economy. While specifics of the reduction were limited, it would take the national sow herd size down to 39.5 million, CLS.cn said in an exclusive report, citing a plan proposed by the Ministry of Agriculture and Rural Affairs last week. The ministry was looking to ease... https://www.scmp.com/economy/china-economy/article/3314938/reaping-sow-china-reduce-pig-count-1-million-amid-low-prices-deflation-risk?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3314938/reaping-sow-china-reduce-pig-count-1-million-amid-low-prices-deflation-risk?utm_source=rss_feed Wed, 18 Jun 2025 13:00:10 +0000 After its somewhat perplexing slowdown in growth last month, consumer inflation in China is expected to edge up over the coming months, in line with the nation’s economic recovery following its zero-Covid exit, according to analysts who say weak demand and falling food prices cooled costs in February. The consumer price index (CPI) fell short of expectations and rose by just 1 per cent in February from a year earlier, down from 2.1 per cent growth in January, the National Bureau of Statistics... https://www.scmp.com/economy/economic-indicators/article/3212876/china-inflation-consumer-prices-eased-february-producer-prices-remained-deflation?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3212876/china-inflation-consumer-prices-eased-february-producer-prices-remained-deflation?utm_source=rss_feed Thu, 09 Mar 2023 01:37:17 +0000 WH Group, the world’s biggest pork processing group, has agreed to sell its food spices and sauces manufacturing business in the US to Solina Group for US$587.5 million,, following a strategic review of its assets. The sale is expected to generate a US$467 million gain before costs and expenses, which is the difference between the selling price and the underlying value of the assets, the Hong Kong-listed Chinese group said in a stock exchange filing late on Monday. France-based Solina is a... https://www.scmp.com/business/companies/article/3194772/chinese-pork-giant-wh-group-sells-us-food-spices-unit-under?utm_source=rss_feed https://www.scmp.com/business/companies/article/3194772/chinese-pork-giant-wh-group-sells-us-food-spices-unit-under?utm_source=rss_feed Tue, 04 Oct 2022 07:01:15 +0000 WH Group warned on Monday that the Ukraine-Russia war will push costs up and affect its profitability, after the world’s biggest pork producer reported a 7.2 per cent jump in profit for last year on higher sales. The company said it expected hog prices in the US to remain lower this year compared with last year, while in China it expects prices to remain low in the first half before trending higher in the second half. In Europe, however, it expects prices to remain high because of a range of... https://www.scmp.com/business/companies/article/3172167/wh-group-posts-72-cent-jump-2021-profit-higher-sales-outlook?utm_source=rss_feed https://www.scmp.com/business/companies/article/3172167/wh-group-posts-72-cent-jump-2021-profit-higher-sales-outlook?utm_source=rss_feed Mon, 28 Mar 2022 12:38:04 +0000 China’s reaffirmation of a long-term goal to be almost entirely self-sufficient in pork production means it will keep scooping up global grain supplies to feed the world’s largest pig herd. The country, which consumes half of the world’s pork, will maintain a target to produce 95 per cent of the protein at home until 2025. It wants to be self sufficient in poultry and egg, 85 per cent for beef and mutton, and 70 per cent for dairy, the agriculture ministry said, adding that they form part of... https://www.scmp.com/economy/china-economy/article/3160789/china-food-security-pork-self-sufficiency-push-raise-demand?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3160789/china-food-security-pork-self-sufficiency-push-raise-demand?utm_source=rss_feed Thu, 23 Dec 2021 05:26:59 +0000 China will raise import tariffs on most pork products next year after the world’s top producer rapidly expanded domestic production and reduced its needs for imports. Tariffs for most favoured nations will return to 12 per cent on January 1, from 8 per cent currently, according to a finance ministry statement on Wednesday. China lowered its tariffs on frozen pork in 2020 from 12 per cent to 8 per cent as the country faced soaring domestic meat prices in the aftermath of a devastating outbreak of... https://www.scmp.com/economy/china-economy/article/3159881/us-pork-producers-concerned-china-raises-import-tariffs?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3159881/us-pork-producers-concerned-china-raises-import-tariffs?utm_source=rss_feed Thu, 16 Dec 2021 01:09:31 +0000 What caused a bout of panic buying in China in November? It started with a notice from China’s Ministry of Commerce on November 1, 2021, telling local authorities to stabilise food supply and prices, including for vegetables, meat and cooking oil in preparation for the coming cold months. “Families are encouraged to store a certain amount of daily necessities to meet the needs of daily life and emergencies,” the ministry said. This sparked heated discussion online, with some users even... https://www.scmp.com/economy/china-economy/article/3154982/china-food-security-why-it-important-and-what-caused?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3154982/china-food-security-why-it-important-and-what-caused?utm_source=rss_feed Sun, 07 Nov 2021 12:15:21 +0000 China’s huge hog sector is struggling with excess production after millions of small, often first-time, pig farmers entered the industry to capitalise on record profits during a swine-fever related shortage. Now, even as prices hover below the cost of production and the government urges them to cull their herds, many of the newcomers are reluctant to give up, dimming hopes for the market returning to balance. “We’ve been losing 400,000 yuan (US$62,500) a month since July. But we made a profit... https://www.scmp.com/economy/china-economy/article/3154561/chinas-new-pig-farmers-determined-hold-despite-big-swings?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3154561/chinas-new-pig-farmers-determined-hold-despite-big-swings?utm_source=rss_feed Tue, 02 Nov 2021 07:58:20 +0000 Factory-gate price inflation in China remained high in August, rising to the highest level in 13 years, data released on Thursday showed. The producer price index (PPI), which reflects the prices that factories charge wholesalers for their products, rose by 9.5 per cent in August from a year earlier, from a gain of 9 per cent in July, the National Bureau of Statistics (NBS) said. This was the fastest pace since hitting 10.1 in August 2008 and was also above expectations, as a Bloomberg survey of... https://www.scmp.com/economy/china-economy/article/3148079/china-inflation-factory-gate-price-growth-remained-high?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3148079/china-inflation-factory-gate-price-growth-remained-high?utm_source=rss_feed Thu, 09 Sep 2021 01:34:39 +0000 WH Group, the world’s biggest pork producer, struck back a second time on Monday at allegations by a former director that shaved US$1.4 billion off its market value last week. The Hong Kong-listed company, which owns Smithfield Foods, reiterated that recent allegations by Wan Hongjian, one of the sons of its founder Wan Long, were “untrue and misleading” before offering a lengthy “clarification” of the accusations on Monday. It issued a separate statement denying the allegations on August... https://www.scmp.com/business/companies/article/3146044/wh-group-strikes-back-allegations-founders-son-shaved-us14?utm_source=rss_feed https://www.scmp.com/business/companies/article/3146044/wh-group-strikes-back-allegations-founders-son-shaved-us14?utm_source=rss_feed Mon, 23 Aug 2021 10:30:12 +0000 China said it will release reserves of commodities “essential for livelihood” in a timely and targeted manner, the state planner said on Friday, after floods hit some regions and amid a resurgence of coronavirus infections in the country. The National Development and Reform Commission (NDRC) said it will strengthen control and prevention of African swine fever disease in its pig herds after the flooding and would ensure supplies of essential produce from the impact of the floods and the... https://www.scmp.com/economy/china-economy/article/3144062/china-release-commodities-essential-livelihood-after-henan?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3144062/china-release-commodities-essential-livelihood-after-henan?utm_source=rss_feed Fri, 06 Aug 2021 08:30:14 +0000 China is taking hog biosecurity to new levels – 13 stories in fact. That is the height of a building in southern China where more than 10,000 pigs are kept in a condominium-style complex, complete with restricted access, security cameras, in-house veterinary services and carefully prepared meals. The seemingly luxurious conditions represent a state-of-the-art approach to biosecurity in which pigs – the main source of meat in China – are shielded from viruses, including the devastating African... https://www.scmp.com/economy/china-economy/article/3143433/chinas-out-boost-food-security-13-storey-hog-hotels-protect?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3143433/chinas-out-boost-food-security-13-storey-hog-hotels-protect?utm_source=rss_feed Mon, 02 Aug 2021 04:00:07 +0000 The deadly floods in the central province of Henan resulted in direct economic losses of 2.25 billion yuan (US$348 million) for China’s poultry and livestock industries after 248,000 pigs and 6.4 million chickens died. The floods, which have been described as the worst in decades after killing at least 99 people, saw some 15,000 farms affected, while another 45,000 sheep and other large livestock also died, China’s Ministry of Agriculture and Rural Affairs said on Friday. “From a national... https://www.scmp.com/economy/china-economy/article/3143212/china-floods-economic-damage-livestock-industry-tops-us348?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3143212/china-floods-economic-damage-livestock-industry-tops-us348?utm_source=rss_feed Fri, 30 Jul 2021 11:15:20 +0000 Chinese farmer Cheng wades through knee-deep water, pulling dead pigs behind him one-by-one by a rope tied around their ankles as he lines up the bloated carcasses for disposal. More than 100 of Cheng’s pigs drowned in floods that paralysed China’s central Henan province last week, and the outlook for those left alive is bleak. “I’m waiting for the water levels to go down to see what to do with the remaining pigs,” said the 47-year-old farmer from Wangfan village, about 90km (55 miles) north of... https://www.scmp.com/economy/china-economy/article/3142569/chinas-farmers-see-livelihoods-washed-away-henan-floods-also?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3142569/chinas-farmers-see-livelihoods-washed-away-henan-floods-also?utm_source=rss_feed Mon, 26 Jul 2021 09:46:37 +0000 In mid June, pig farmer Liang Rixiang made the painful decision to downsize the hog farm she had been expanding for the past decade, selling four of her 10 breeding sows, two of them with babies. Liang’s farm of 100 hogs was relatively big for her village in northeastern Liaoning province. But neither she nor her smaller neighbours could avoid the economic pressure caused by plummeting pork prices, which have dropped as much as 60 per cent since the beginning of the year. “No matter how you... https://www.scmp.com/economy/china-economy/article/3141226/how-chinas-pork-crisis-put-squeeze-struggling-family-pig?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3141226/how-chinas-pork-crisis-put-squeeze-struggling-family-pig?utm_source=rss_feed Fri, 16 Jul 2021 03:00:22 +0000 Chinese consumers are enjoying relatively low food prices but should brace for rising transport costs as surging global oil prices continue to wreak havoc by inflating the prices of oil-reliant products and services. China’s official consumer price index (CPI) rose by 1.1 per cent in June from a year earlier, down from 1.3 per cent in May, the National Bureau of Statistics (NBS) said on Friday. Food prices fell 1.7 per cent in June, year on year, after rising 0.3 per cent in May. The decline was... https://www.scmp.com/economy/china-economy/article/3140541/chinas-transport-costs-surge-line-skyrocketing-oil-prices?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3140541/chinas-transport-costs-surge-line-skyrocketing-oil-prices?utm_source=rss_feed Fri, 09 Jul 2021 10:44:08 +0000 Pork is big business in China, the only country in the world to have its own dedicated pork reserve. The government can tap into this reserve as pork prices shoot up or down, as they currently are amid another outbreak of African swine fever. There is no treatment or vaccine for the disease, and severe price and production problems could persistently plague the Chinese pork industry without more long-term solutions. Global ripple effects are likely here to stay for the foreseeable future. One... https://www.scmp.com/comment/opinion/article/3139642/how-lab-grown-meat-can-help-fix-chinas-pork-crisis-and-food?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3139642/how-lab-grown-meat-can-help-fix-chinas-pork-crisis-and-food?utm_source=rss_feed Sun, 04 Jul 2021 05:30:20 +0000 WH Group, the world’s biggest pork producer, has removed the chairman’s son from the board and terminated his employment, citing his aggressive behaviour against the company. Wan Hongjian, 52, son of the chairman and CEO Wan Long, 80, was stripped on Thursday of his roles as executive director, deputy chairman and vice-president, based on the company’s “amended and restated” articles of association, it said in a filing to Hong Kong’s bourse. The company said that Wan was unable to fulfil his... https://www.scmp.com/business/china-business/article/3137735/chinese-pork-giant-wh-group-fires-chairmans-son-board-over?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3137735/chinese-pork-giant-wh-group-fires-chairmans-son-board-over?utm_source=rss_feed Fri, 18 Jun 2021 00:30:00 +0000 Plummeting prices for China’s favourite meat mean a lot of the pigs that trader Zhang Yu is seeing in the market these days are supersized, or at least a little overweight. Low prices driven by sluggish demand and panic selling over African swine fever outbreaks are causing many farmers to hold onto their herds, and fatten them up, in the hope prices will rebound. “If they sell at the current price, they will certainly lose money,” said Zhang, who lives in a small town in the northeastern... https://www.scmp.com/economy/china-economy/article/3136941/china-fine-tunes-pork-reserve-system-panic-selling-and?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3136941/china-fine-tunes-pork-reserve-system-panic-selling-and?utm_source=rss_feed Fri, 11 Jun 2021 10:15:00 +0000 WH Group, the world’s largest pork producer, surged to a 14-month-high after the company offered as much as HK$14.95 billion (US$1.93 billion) to buy back 13 per cent of its capital at a premium as the stock underperformed the market in 2020 and this year. The stock rose 11 per cent to an intraday high of HK$7.54 on Monday, its highest level since April 2020, before closing at HK$7.33 on Monday. Hong Kong’s benchmark Hang Seng Index fell 0.5 per cent on the same day. The share price rose after... https://www.scmp.com/business/companies/article/3136272/worlds-biggest-pork-producer-wh-group-makes-us193-billion?utm_source=rss_feed https://www.scmp.com/business/companies/article/3136272/worlds-biggest-pork-producer-wh-group-makes-us193-billion?utm_source=rss_feed Mon, 07 Jun 2021 00:15:06 +0000 Obese pigs in China are being blamed for worsening a sudden rout in the country’s pork prices. Since late last year, farmers have been fattening hogs to almost double their normal weight – roughly the size of a pygmy hippo or a female polar bear – in hopes that the animals will generate higher returns should prices rebound. Cao Tao, a pig trader in the northwestern province of Shaanxi, said many of the swine he is buying weigh more than 200kg, compared with their usual size of around 125kg.... https://www.scmp.com/economy/china-economy/article/3134750/chinas-obese-pigs-fuel-relentless-slump-pork-prices?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3134750/chinas-obese-pigs-fuel-relentless-slump-pork-prices?utm_source=rss_feed Tue, 25 May 2021 07:16:40 +0000 China is stepping up efforts to control the spread of African swine fever, restricting the movement of live pigs within designated regions. While the country aims for a full recovery from the pork crisis by midyear, experts warn that this goal could be much further away. On April 29, the northern region of Inner Mongolia reported the country’s 10th sporadic outbreak of African swine fever, a disease that first erupted in China in August 2018. In all, 343 of 432 pigs were killed at one farm in... https://www.scmp.com/news/china/science/article/3132380/african-swine-fever-china-limits-live-pig-shipments-curb?utm_source=rss_feed https://www.scmp.com/news/china/science/article/3132380/african-swine-fever-china-limits-live-pig-shipments-curb?utm_source=rss_feed Thu, 06 May 2021 01:00:18 +0000 Reuters,Bloomberg Reuters,Bloomberg China’s pork imports jumped to an all-time high in March on supply concerns following a resurgence of African swine fever in the world’s biggest consumer and producer. Inbound shipments increased 16 per cent from a year earlier to 460,000 tonnes, boosting overall meat imports to a record as well, according to customs data on Sunday. Purchases in the first quarter advanced 22 per cent to 1.16 million tonnes, data showed. Hog herds could have contracted by as much as 30 per cent from November,... https://www.scmp.com/economy/china-economy/article/3130257/china-trade-us-soybean-imports-surge-320-cent-march-brazilian?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3130257/china-trade-us-soybean-imports-surge-320-cent-march-brazilian?utm_source=rss_feed Tue, 20 Apr 2021 06:18:44 +0000 Although pork prices in China have reached their lowest point in more than a year and a half, stabilising the nation’s pork supply remains a challenge amid risks of a possible second wave of the devastating African swine fever, analysts say. The wholesale price of pork, a staple food among Chinese households, has fallen for nine straight weeks, touching 33 yuan (US$5) per kilogram this week, which was close to the level in August 2019, according to data from the Ministry of Agriculture and... https://www.scmp.com/economy/china-economy/article/3128795/chinas-high-pork-prices-are-dropping-african-swine-fever?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3128795/chinas-high-pork-prices-are-dropping-african-swine-fever?utm_source=rss_feed Thu, 08 Apr 2021 11:30:12 +0000 African swine fever remains a “major risk factor” for China’s pig production after the government this week was forced to step up its efforts to control a resurgence of the disease at home and in neighbouring countries. With concerns the African swine fever re-emergence may threaten efforts to rebuild its national pig herd, raising questions about food security and consumer inflation outlook, China has issued a new import ban and also cracked down harder on fake vaccines for the deadly disease... https://www.scmp.com/economy/china-economy/article/3125237/african-swine-fever-still-major-risk-factor-china-it-bans?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3125237/african-swine-fever-still-major-risk-factor-china-it-bans?utm_source=rss_feed Fri, 12 Mar 2021 12:30:07 +0000 China’s factory gate prices continued to rise in February, as producers passed on rising raw material prices, data released on Wednesday showed. The producer price index (PPI), which reflects the prices that factories charge wholesalers for their products, rose to 1.7 per cent in February from a year earlier, the highest rate since November 2018 and a sharp increase from the gain of 0.3 per cent in January. This was above expected, with a Bloomberg survey of analysts predicting a rise to 1.3 per... https://www.scmp.com/economy/china-economy/article/3124771/china-factory-gate-prices-jump-february-producers-pass-rise?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3124771/china-factory-gate-prices-jump-february-producers-pass-rise?utm_source=rss_feed Wed, 10 Mar 2021 01:39:02 +0000 A Chinese state laboratory has detected two more-transmissible mutations of the African swine fever virus, a disease that has devastated pig herds across the country in recent years. In a paper published on Friday, researchers at the Chinese Academy of Agricultural Science’s Harbin Veterinary Research Institute said they carried out genetic analysis of various natural mutations of the virus found in seven provinces between June and December. Two of the emerging strains were highly transmissible... https://www.scmp.com/news/china/science/article/3123434/china-watch-mutant-african-swine-fever-strains?utm_source=rss_feed https://www.scmp.com/news/china/science/article/3123434/china-watch-mutant-african-swine-fever-strains?utm_source=rss_feed Sat, 27 Feb 2021 15:00:10 +0000 China’s producer price index (PPI) rose for the first time in a year due to a rise in demand as the economic recovery continued and as factories passed on rising input prices, data released on Wednesday showed. PPI, reflecting the prices that factories charge wholesalers for their products, rose to 0.3 per cent in January from a year earlier, compared with minus 0.4 per cent in December. This was in-line with the Bloomberg survey which had predicted a rise to 0.3 per cent. PPI was last positive... https://www.scmp.com/economy/china-economy/article/3121223/china-inflation-manufacturers-charging-more-their-products?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3121223/china-inflation-manufacturers-charging-more-their-products?utm_source=rss_feed Wed, 10 Feb 2021 01:48:03 +0000 Authorities have ordered all 3,000 pigs at a farm in northern Hong Kong culled after African swine fever appeared to be spreading at the facility. Six samples taken from one shed on the premises at Wong Nai Tun in Yuen Long returned traces of the disease on February 4, triggering the culling of 240 pigs, and two additional samples from another shed came back positive on Saturday, prompting the killing of 590 more pigs, indicating it was spreading, the Agriculture, Fisheries and Conservation... https://www.scmp.com/news/hong-kong/health-environment/article/3121210/3000-pigs-hong-kong-farm-be-culled-after-african?utm_source=rss_feed https://www.scmp.com/news/hong-kong/health-environment/article/3121210/3000-pigs-hong-kong-farm-be-culled-after-african?utm_source=rss_feed Tue, 09 Feb 2021 16:42:41 +0000 Despite warnings that Chinese authorities might block Australian wheat amid an escalating political row, wheat exports to China surged last month, underscoring a year in which overall trade between the countries approached a record high. After three months in which there had been no wheat trade between the two countries, hundreds of thousands of tonnes changed hands in December, valued at A$248 million (US$191.2 million), according to preliminary trade data from the Australian Bureau of... https://www.scmp.com/economy/china-economy/article/3119175/china-australia-relations-wheat-shipments-grain-hungry-china?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3119175/china-australia-relations-wheat-shipments-grain-hungry-china?utm_source=rss_feed Mon, 25 Jan 2021 20:30:16 +0000 China’s pork output posted a sharp recovery last year after the sector was decimated by an incurable hog disease in 2019, official data showed on Monday. China’s 2020 pork output fell by just 3.3 per cent from a year earlier to 41.13 million tonnes after plunging by 21 per cent in 2019, the National Bureau of Statistics said. But some analysts said they had expected a much bigger fall in 2020 after the African swine fever ravaged China’s breeding stock in 2019. China’s stock had fallen by an... https://www.scmp.com/economy/china-economy/article/3118161/chinas-pork-output-recovered-sharply-last-year-beating?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3118161/chinas-pork-output-recovered-sharply-last-year-beating?utm_source=rss_feed Mon, 18 Jan 2021 06:53:01 +0000 Pork is to Chinese what beef is to Americans. High pork prices have been a headache for many Chinese people, from homemakers to the most senior policymakers. The African swine fever outbreak, one of the world’s worst instances of animal disease, is to blame for the wild price swings over the past two years. Given pork’s importance in Chinese society, Beijing has pulled out all the stops to stabilise supplies and prices. The latest, 20 years in the making, is the launch of hotly anticipated hog... https://www.scmp.com/comment/opinion/article/3117285/trading-chinas-hog-futures-must-be-properly-regulated?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3117285/trading-chinas-hog-futures-must-be-properly-regulated?utm_source=rss_feed Mon, 11 Jan 2021 12:04:31 +0000 China’s headline consumer inflation recovered in December after dropping into negative territory in the previous month for the first time in 11 years, data released on Monday showed. China’s official consumer price index (CPI) rose to 0.2 per cent in December from a year earlier, from minus 0.5 per cent in November, according to data released by the National Bureau of Statistics (NBS). This was above with the median results of a Bloomberg survey of analysts which had predicted a rise to zero per... https://www.scmp.com/economy/china-economy/article/3117158/china-consumer-inflation-turns-positive-december?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3117158/china-consumer-inflation-turns-positive-december?utm_source=rss_feed Mon, 11 Jan 2021 01:40:32 +0000 China has kick-started the trading of hog futures as the world’s biggest consumer of pork moves to provide a hedging tool for breeders who experienced bouts of wild price swings over the past two years caused by the African swine fever outbreak. Three types of contracts debuted on the Dalian Commodity Exchange on Friday. Opening a contract requires about 40,000 yuan (US$6,186) based on the minimum margin requirement of 8 per cent set by the exchange operator. Prices slumped by almost their 16... https://www.scmp.com/business/markets/article/3116960/china-launches-hog-futures-dalian-exchange-after-african-swine?utm_source=rss_feed https://www.scmp.com/business/markets/article/3116960/china-launches-hog-futures-dalian-exchange-after-african-swine?utm_source=rss_feed Fri, 08 Jan 2021 09:19:21 +0000 China’s headline consumer inflation dropped into negative territory in November for the first time in 11 years as pork prices eased significantly, raising the risk of further deflation in the world’s second biggest economy and casting doubt on the nation’s real consumer spending power. Most economists, however, said last month’s decline in consumer prices, which was driven by a rebound in pork supply, did not indicate China’s economic recovery from the coronavirus pandemic was under... https://www.scmp.com/economy/china-economy/article/3113131/chinas-economy-reports-consumer-deflation-first-time-11-years?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3113131/chinas-economy-reports-consumer-deflation-first-time-11-years?utm_source=rss_feed Wed, 09 Dec 2020 01:51:41 +0000 Why is China’s food security important? China needs to feed its 1.4 billion people, around one fifth of the world’s population. The memory of China’s Great Famine that swept the country from 1958-62 is still rooted in the hearts of older generations. Mao Zedong’s Great Leap Forward, a radical agricultural campaign, was supposed to lead China into a communist utopia through rapid industrialisation and collectivisation, but it led to the death of tens of millions of people. And in a turbulent... https://www.scmp.com/economy/china-economy/article/3111623/china-food-security-hows-it-going-and-whys-it-important?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3111623/china-food-security-hows-it-going-and-whys-it-important?utm_source=rss_feed Sun, 29 Nov 2020 10:30:12 +0000 The larger-than-expected deceleration in the Chinese consumer inflation rate to an 11-year low in October has prompted some economists to warn of a possible risk of deflation in the world’s second-largest economy. Other economists, however, say the risk is remote because most of the downward price pressure is being caused by a continued drop in pork prices as the nation’s pig population is replenished following the devastation caused by African swine fever, which was first detected in China in... https://www.scmp.com/economy/china-economy/article/3109273/chinas-consumer-inflation-rate-hits-11-year-low-economists?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3109273/chinas-consumer-inflation-rate-hits-11-year-low-economists?utm_source=rss_feed Tue, 10 Nov 2020 12:31:57 +0000 What is consumer inflation? Consumer inflation is the rising costs of goods and services in an economy and, as a result, reflects the decreasing purchasing power of consumers, all other things being equal. Rising income can offset the impact of rising inflation. “Real” income growth is adjusted to subtract the impact of inflation. How is China’s consumer inflation measured? It is most often measured by the consumer price index (CPI), which tracks the prices people pay for a “basket” of goods and... https://www.scmp.com/economy/china-economy/article/3109080/china-inflation-how-it-measured-and-why-it-important?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3109080/china-inflation-how-it-measured-and-why-it-important?utm_source=rss_feed Tue, 10 Nov 2020 09:00:14 +0000 China’s consumer prices in October slowed to their lowest level in 11 years, data released on Tuesday showed. China’s official consumer price index (CPI) rose just 0.5 per cent in October from a year earlier, down from 1.7 per cent in September, the National Bureau of Statistics (NBS) said on Tuesday. This was below the median expectations in a Bloomberg survey of analysts for a rise of 0.8 per cent as it hit its lowest level since October 2009, when it was minus 0.5 per cent. This drop was... https://www.scmp.com/economy/china-economy/article/3109149/china-consumer-inflation-hit-lowest-11-years-october?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3109149/china-consumer-inflation-hit-lowest-11-years-october?utm_source=rss_feed Tue, 10 Nov 2020 01:38:42 +0000 China’s annual consumer price inflation rate is expected to have slowed to less than 1 per cent in October for the first time in more than three-and-a-half years, thanks to the continued moderation in pork prices combined with protracted weak consumer demand in the wake of the coronavirus pandemic. Amid a continued drop in price pressures in the current economic recovery, some economists have warned of rising risks of deflation – a sustained drop in consumer prices – unless Beijing maintains a... https://www.scmp.com/economy/china-economy/article/3109104/chinas-inflation-rate-seen-falling-sharply-lower-pork-prices?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3109104/chinas-inflation-rate-seen-falling-sharply-lower-pork-prices?utm_source=rss_feed Mon, 09 Nov 2020 11:43:45 +0000 China’s official consumer price index (CPI) rose 1.7 per cent in September from a year earlier, down from 2.4 per cent in August, the National Bureau of Statistics (NBS) said on Thursday. China’s producer price index, reflecting the prices that factories charge wholesalers for their products, shrank 2.1 per cent in September compared to a year earlier, widening slightly from a fall of 2.0 per cent in August. What does China’s September inflation data mean? The prices of goods that a typical... https://www.scmp.com/economy/china-economy/article/3105584/chinas-september-inflation-eases-pork-price-surge-ebbs?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3105584/chinas-september-inflation-eases-pork-price-surge-ebbs?utm_source=rss_feed Thu, 15 Oct 2020 02:42:42 +0000 Although the febrile atmosphere of a US presidential campaign is not a good time to expect rational discussion of the US-China trade relationship, this is not an issue that will go away. Whoever is inaugurated as US president on January 20, Beijing and Washington need to craft an economic relationship that works for both sides. Talk of a new cold war is unhelpful. It would be in no one’s interests to go down that route. What always should be remembered is that China needs products that the... https://www.scmp.com/comment/opinion/article/3103432/next-us-president-must-reshape-us-china-trade-relationship?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3103432/next-us-president-must-reshape-us-china-trade-relationship?utm_source=rss_feed Tue, 29 Sep 2020 14:35:05 +0000 China claims to have made significant progress towards rebuilding the nation’s pig production that was first devastated by African swine fever and then hit by the coronavirus pandemic, although experts believe it will take at least another year for pork supply problems to be solved. There are now 171,000 pig farms across the country with an annual output of over 500 pigs, up from 161,000 at the beginning of the year, according to the Ministry of Agriculture and Rural Affairs. Around 23,000 pig... https://www.scmp.com/economy/china-economy/article/3103082/china-making-progress-rebuilding-pig-population-supply-gap?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3103082/china-making-progress-rebuilding-pig-population-supply-gap?utm_source=rss_feed Fri, 25 Sep 2020 10:30:13 +0000 The cost of China’s much-loved pork rib dishes is soaring after Beijing suspended imports of pig meat from major supplier Germany, hurting restaurants still recovering from the coronavirus hit earlier this year. Pork ribs are one of China’s bestselling menu items, but many restaurants specialising in the cut rely on imports, which can be up to 10 times cheaper than local supplies. Germany was among the biggest suppliers of ribs to China until it confirmed its first case of African swine fever,... https://www.scmp.com/economy/china-economy/article/3102840/chinas-ribs-and-rice-chains-under-pressure-rising-pork-costs?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3102840/chinas-ribs-and-rice-chains-under-pressure-rising-pork-costs?utm_source=rss_feed Thu, 24 Sep 2020 05:39:53 +0000 China’s inflation rate rose 2.7 per cent in July, up from the 2.5 per cent gain in June, data released on Monday showed. The rising consumer price index (CPI) was slightly worse than the inflation rate of 2.6 per cent expected by analysts. Pressure on China’s manufacturing sector following the impact of the coronavirus pandemic, meanwhile, eased slightly in July as the producer price index (PPI), reflecting the prices that factories charge wholesalers for their products, fell 2.4 per cent year... https://www.scmp.com/economy/china-economy/article/3096682/china-inflation-rises-27-cent-july-driven-higher-food-costs?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3096682/china-inflation-rises-27-cent-july-driven-higher-food-costs?utm_source=rss_feed Mon, 10 Aug 2020 01:40:31 +0000 Beyond Meat burger patties hit shelves at Alibaba’s Hema supermarket chain in Shanghai on Saturday, marking the first time a plant-based meat is being sold in a grocery store in China, and coming at a time of lingering worries about traditional meat. It’s a big coup for Beyond Meat because none of its meatless rivals battling for Chinese stomachs has broken into grocery chains yet. It gives Beyond Meat an edge – at least for now – in the fierce meatless battle under way in China but that has so... https://www.scmp.com/business/china-business/article/3091927/beyond-meat-gets-edge-china-its-meatless-burgers-become?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3091927/beyond-meat-gets-edge-china-its-meatless-burgers-become?utm_source=rss_feed Mon, 06 Jul 2020 05:45:04 +0000 Muyuan Foods, China’s largest pig farmer by market value, expects hog prices to fall over the next two to three years, as the industry’s output recovers from a sweeping epidemic that decimated the country’s herd by 40 per cent at one point. The African swine fever, harmless to humans but fatal to pigs, spread to China in late 2018 and propelled a national crisis as the price of pork surged fourfold to a historical high of 41 yuan per kg through November last year. The price of the most important... https://www.scmp.com/business/companies/article/3086485/chinas-billionaire-farmer-sees-tipping-point-sky-high-hog-prices?utm_source=rss_feed https://www.scmp.com/business/companies/article/3086485/chinas-billionaire-farmer-sees-tipping-point-sky-high-hog-prices?utm_source=rss_feed Thu, 28 May 2020 07:02:20 +0000 Hong Kong, a financial centre less known for its biotechnology industry and even less for its expertise in animal health technologies, is home to one company with global ambitions in the animal vaccine business. Pacific GeneTech this month partnered with Rhode Island, US-based EpiVax to develop vaccines for African swine fever (ASF), said CEO Tim Collard, who started his pharmaceutical career in the 1970s at Connaught Laboratories, which supplied vaccines to Hong Kong. “EpiVax has developed... https://www.scmp.com/business/banking-finance/article/3085666/hong-kong-start-pacific-genetech-joins-global-search?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3085666/hong-kong-start-pacific-genetech-joins-global-search?utm_source=rss_feed Sun, 24 May 2020 02:30:18 +0000 China has for the first time broken up a criminal ring that was making and selling a fake vaccine for African swine fever, the disease that devastated the country’s pig population over the last two years. Amid a growing number of scams involving fake cures, a group of seven suspects were arrested by police in Sichuan province and the neighbouring municipality of Chongqing for selling a counterfeit vaccine to pig farmers. Overall, the group caused losses of over 18 million yuan (US$2.5 million),... https://www.scmp.com/economy/china-economy/article/3085621/china-arrests-gang-selling-fake-african-swine-fever-vaccine?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3085621/china-arrests-gang-selling-fake-african-swine-fever-vaccine?utm_source=rss_feed Fri, 22 May 2020 23:30:28 +0000