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China - Officials say CPI increase will be in normal range this year despite increasing pig prices - May 17, 2019

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  • China - Officials say CPI increase will be in normal range this year despite increasing pig prices - May 17, 2019

    Development and Reform Commission: pig prices may rise to a certain extent without overestimating the impact on CPI

    News on May 17th, 2019 at 11:22
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      National Development and Reform Commission: pig prices may rise to a certain extent, do not have to overestimate the impact on CPI
      澎湃News reporter Han Shengjiang
      On May 17, the National Development and Reform Commission held a press conference on the operation of the macro economy. Meng Min, a spokesperson for the National Development and Reform Commission, said that due to the overlapping effects of African swine fever and the “pig cycle”, the prices of live pigs and pork may increase to some extent later this year. But it is not necessary to overestimate the impact of pig and pork prices on CPI.

      Since the beginning of this year, the retail price of pork has been stable. In early May, the retail price of pork in the supermarket market of large and medium-sized cities monitored by the National Development and Reform Commission was 12.94 yuan per kilogram, up 2.1% from the beginning of the year; up 14.6% year-on-year, mainly due to the price in the same period last year. The lowest level in a few years.  Meng Hao said that the recent trend of pork prices has received widespread attention. After the Spring Festival this year, the price of live pigs has risen rapidly from a low level and has stabilized since April. On May 8, the national average pig production price was 15.16 yuan per kilogram, up 8.9% from the beginning of the year and up 45.8% year-on-year. The year-on-year increase was mainly due to the low base price of live pigs in the same period last year, which was 10.4 yuan per kilogram, the lowest level since 2011. From a longer period of time, the current hog price is about 2.1% lower than the average of the beginning of 2015.
      Meng Hao said that due to the overlapping effects of African swine fever and “pig cycle”, the price of live pigs and pork may increase in the future. However, due to the abundant production and supply of livestock, poultry, aquatic products, poultry and eggs in China, household consumption will not be greatly affected. At the same time, it is not necessary to overestimate the impact of pig and pork prices on CPI. The National Development and Reform Commission predicts that the CPI will be relatively stable after the end of this year, and the annual increase will remain within the expected target range.

    https://finance.sina.com.cn/roll/201...x9301333.shtml





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    Please see:

    China - African Swine Fever 2018-19

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    All love surround you,
    And the pure light within you
    Guide your way on."

    "Where your talents and the needs of the world cross, lies your calling."
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  • #2
    Updated on May 30, 2019 African swine fever will push up pork prices in China

    When Chinese farmers saw signs of African swine fever, they sent the entire herd to the slaughterhouse instead of reporting to the government and receiving a small amount of compensation. This means that there may be a shortage of pork supply in the second half of the year.


    http://www.ftchinese.com/premium/001082991?exclusive




    [COLOR=rgba(0, 0, 0, 0.95)]meanwhile....

    "China has imposed
    [/COLOR]retaliatory tariffs[COLOR=rgba(0, 0, 0, 0.95)] of 50% on U.S. pork imports, which brings the total tariff level to 62% when factoring in the normal 12% rate applied to U.S. pork brought into the country. The USDA estimates that China will be the biggest source of demand for U.S. pork in 2019, and they expect China’s [/COLOR]imports[COLOR=rgba(0, 0, 0, 0.95)] to rise 41% for the year."[/COLOR]


    http://time.com/5580126/china-swine-...try-spreading/

    "May the long time sun
    Shine upon you,
    All love surround you,
    And the pure light within you
    Guide your way on."

    "Where your talents and the needs of the world cross, lies your calling."
    Aristotle

    “In a gentle way, you can shake the world.”
    Mohandas Gandhi

    Be the light that is within.

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