China to provide more suport for pig farmers
The Chinese government announced that new lines of financial support will be provided for pig farmers in the country, after a meeting between the Ministry of Agriculture and Rural Affairs, the Ministry of Finance and the China Banking and Insurance Regulatory Commission. Monetary and fiscal policies announced by the officials are aiming to stabilize the pork market in the country and to re-balance pig production in areas affected by a new wave of African Swine Fever (ASF) outbreaks, such as Sichuan, Inner Mongolia Autonomous Region and Xinjiang Uygur Autonomous Region, according to the Global Times newspaper.
Local authorities in Sichuan, one of the largest pig-producing areas in the country, are currently introducing new measures to stabilize hog production and pork prices. "Departments at all levels should make every endeavor to stabilize hog production and pork prices, strengthen policy support and confidence, in order to reach this year's goals of producing 40 million hogs on hand and 58 million hogs for marketing", says an official document, quoted by local media. China's pork prices have dropped more than 65% in the first half of the year due to massive liquidation in small and medium-sized farms following the ASF outbreaks that appeared this year. New, Beijing wants to encourage these farmers to get back in business in order to keep production figures on an ascendant trend.
A decline in pork prices it will probably reduce pork imports in short-term but it will also be reflected in a drop in pig harvest, as many small and medium enterprises in this field have put their hopes in high profits, at least for the last couple of years.
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