An official with the Ministry of Agriculture and Rural Affairs said on July 20 that China's pork supply in the second half of this year is secure and prices will not see a substantial increase.
Chen Guanghua, the agricultural official, said at a news conference in Beijing that pork prices rose in late June, but have declined recently.
Chen said that seasonal reasons and a spike in demand, largely driven by a significant rise in pork consumption due to the resumption of schools, factories and catering businesses in June, were the main culprits behind the price hikes.
Other contributing factors include farmers holding out to sell at higher prices and the decline in pork imports due to COVID-19's impact on logistics, he said.
Looking ahead, Chen said the pork supply in the second half of the year will be similar to the same period in 2021, as production currently remains within an appropriate range.