Pork price hits a new high
Not only vegetables are experiencing a price hike, it seems pork is also hitting a new high price this month. pork now cost 27.67 yuan per kilogram passing the old peak of 26 yuan. this new price is due to the rising costs and limited supply of pork.
Keeping live pigs for meat also increased to 18.57 yuan a kilo since last week and will keep rising until the end of the year. this is also because of the price of corn which is usually used as pig feed is also gradually increasing since the recent rains and flooding are causing havoc to the crops.
Since pork accounts 65 percent of meat consumption in China the increasing price will also send the prices of vegetables and grains higher since consumers will be looking for an alternative for meat. The government have already tried to control the price of pork by opening up the supply reserves, but the effect was limited since there was a supply shortage last year when farmers had to slaughter breeding stocks due to low prices and disease.