China pork prices in prolonged slump, pushing down CPI

Beijing cuts breeding targets to counter trend as bankruptcies increase

20240417N China pork

Dalian pork futures are down around 40% from their most recent peak in October 2022. © Reuters

MISA HAMA, Nikkei staff writer

TOKYO -- Chinese prices for pork -- a product that accounts for 60% of the country's meat consumption -- are in a prolonged slump, putting producers at increased bankruptcy risk and forcing the government to take actions including lowering production goals.

Pork futures on the Dalian Commodity Exchange, a key indicator of pork prices in the country, were around 14 yuan ($1.93) per kilogram as of Tuesday.

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