China Sees New Jump in Pork Prices as Imports Under Scrutiny
The pork price surge is driven by increased demand for cured and preserved meat ahead of the Lunar New Year.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Pork prices have rebounded in China as demand strengthens before a major holiday season and supply tightens because of a virus-linked crackdown on imports.
Wholesale pork prices jumped almost 6% in the first week of December from a week earlier to 41.98 yuan ($6.41) per kilogram, posting the biggest gain in a year, according to data from the commerce ministry. Prices climbed a further 0.8% in the week ended Dec. 13. If sustained, this has the potential to push up consumer prices, which last month slipped into deflation.