CANADA, Oakville, MB. China will continue to import pork in massive quantities as the demand is growing in the Southeast Asian country.
Despite the fact that Chinese government officials are talking about large scale new sow projects in the country, in 2017 China's livestock decline by 2 mill. sows due to tough environmental regulations and rural to urban registration. The lack of domestic supply is reflected by the prices of hogs: $2.07/kg liveweight.
"The extremely high prices are the real indicator of supply relative to demand. We expect hog prices to stay high through 2018. China will continue to import a significant amount of pork throughout 2018", said Jim Long, president-CEO of Genesus Inc., in his latest global report on the pork industry.
Analysts predicted last year that China's imports of pork could reach up to 3 mill. t, but the demand was not as high as they expected. Nevertheless, a Rabobank report released in February mentioned that China's pork imports could pick up again in 2018.