April 17, 2019 / 3:13 AM / 4 days ago

China pork prices to jump 70 pct y/y in second half 2019 - AgMin official

BEIJING, April 17 (Reuters) - Chinese pork prices are expected to jump more than 70 percent from the previous year in the second half of 2019, an agriculture ministry official said on Wednesday.

The rise will take pork prices to record high levels and profits from pig farming will continue to grow, Tang Ke, director of the market and information department at the Ministry of Agriculture and Rural Affairs ministry, told reporters, citing experts.

Prices will rise as the number of pigs sent to slaughterhouse is set to fall further, while demand will rise during holidays in the second half of this year, Tang said.

China, which accounts for about half of global pork output, is struggling to contain an outbreak of deadly African swine fever, which has spread rapidly through the country’s hog herd.

Reporting by Hallie Gu and Dominique Patton; editing by Richard Pullin

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