May 18, 2020 / 8:15 AM / 11 days ago

China's New Hope sees hog production recovering by 2021

BEIJING, May 18 (Reuters) - China’s New Hope Group, one of the country’s top pig breeders, expects Chinese hog production to recover to normal levels by 2021, chairman Liu Yonghao told reporters on Monday.

Production declined by around half last year as the fatal pig disease African swine fever ravaged the country’s herd.

Liu also warned that while prices will remain relatively high this year, they could plunge to below cost in the near future as new players rush into farming. (Reporting by Hallie Gu and Dominique Patton, editing by Louise Heavens)

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