Friday, January 15, 2010

China pork prices to even out in 2010

China's Ministry of Commerce expects the country's pork production and prices to even out in 2010, according to Xinhua news agency. Prices are currently recovering from a steep drop in early 2009.
Oversupply led the live hog price to fall 40% to ¥9.56 (US$1.41) per kilogram from June 2008 to June 2009. But some of the loss was recovered by the end of the year, with the live hog price reaching ¥12.36 per kilogram by the first week of 2010, according to a ministry official.

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