China looks to buy 20,000 tones of pork
China is trying to maintain an equilibrium in its meat market by buying 20,000 tonnes of pork from other countries. This is the first move that the Chinese government is making in almost two years, after it bought 200,000 tonnes of pork between February and March 2019.
According to various international economic analysts, it is a new action to try to contain the fall in prices, which have plummeted in the country by 65% in the first six months of the year. The main reason for this drop is the large number of pigs sent to the slaughterhouse in the country for fear of the different outbreaks of ASF that have emerged. Still, it may not be the first tender held by China this year, as domestic production seems to be impacted by the drop in prices. According to a USDA analysis, small and medium-sized commercial pig producers have liquidated overweight pigs (more than 250 kilograms), standard weight pigs (about 150 kilograms) and underweight pigs, as the price of pork fell. Previously, producers kept pigs overweight, as consumers and meat processors found the product desirable.
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