Pork Prices in China Rebound in July

The pork prices rebounded in June and July after three consecutive months of decline. In July 2020 the pork price increased by 10.3% on a monthly basis after 3.6% increase in the previous month. The retails prices of fresh pork products also increased on a monthly basis in July for the first time since February. The pork rib cut price in China improved to 29.75 RMB/500g from 27.5 RMB/500g in June, the pork tenderloin price improved to 30.87 RMB/g from 28.63 RMB/500g in the previous month.

 
The number of pig livestock in China increased by 4.8% on a monthly basis amid a decline of food retail sales and worsening consumer confidence in July. Over the past few months the pork consumption in China was heavily affected by the COVID-19 impact on the catering industry.

Further data and analysis on China’s economy is available on the CEIC China Economy in a Snapshot – Q3 2020 report.