CHINA’S pork imports surged nearly 63 percent in May from the same month last year, customs data showed Sunday, as the world’s top consumer of the meat stocked up on supplies ahead of an anticipated shortage. May imports came in at 187,459 tons, the largest volume since 192,348 tons in August 2016, according to the data. The increase comes as African swine fever continues to infect pigs across China, producer of half the world’s hogs, leading to a sharp fall in the size of its herd. China’s pork prices rose rapidly in the first half of March, triggering large purchases of meat from overseas markets, including the United States. Prices have since stabilized, with importers and traders saying demand in recent weeks for imported frozen pork has been very weak amid plentiful supplies of fresh pork from farmers slaughtering their herds as the disease reaches new areas. Demand is likely to pick up again in coming months, however. China said earlier this month that the country’s sow herd fell by 23.9 percent in May from a year earlier, a huge drop that will create a significant decline in output. Analysts at Rabobank said in April that China’s pork output could fall to just 38 million tons in 2019, versus 54 million tons last year. China’s pork imports would be capped at about 4 million tons, they said, based on available world supplies. China’s pork imports in the first five months to May came to 658,236 tons, up 19.8 percent on the same period a year ago. (SD-Agencies) |