Knowledge

To provide the latest market news and hold online & offline events to assist you being well-informed and making decisions.

01

2022

-

09

China's Pork and Egg Wholesale Prices in Aug

Source:

OIG+X

According to the data from MARA, China’s pork wholesale prices in Aug display a slightly upward trend with the lowest price of 4.16 $/kg and the highest one of 4.39 $/kg on the last day of Aug. As for the egg wholesale market, its wholesale prices touch the highest point at 1.65 $/kg on 31st Aug, showing a prominent increasing trend.

 

Note*: The following prices are close to retail prices in China, rather than the prices for domestic slaughterhouses. USD to CNY exchange rate is 6.8.

 

According to the data from MARA, China’s pork wholesale prices in Aug display a slightly upward trend with the lowest price of 4.16 $/kg and the highest one of 4.39 $/kg on the last day of Aug. The pork average price in Aug is 4.28 $/kg (29.11 yuan/kg), increasing a lot compared with last Aug of 3.15 $/kg (21.41 yuan/kg).

 

September usually welcomes the traditional replenishment period of Chinese buyers as school starts and the Mid-Autumn Festival comes. However, pork prices in Aug seem calmer than in July. This year 2022 has seen multiple flares nationwide of the Covid epidemic, which curbs the consumption demand. The sales in the end market are not ideal. Also, the state planner said that NDRC would locally release the pork reserves in the following days before several festivals to prevent the surge in pork prices. This action, although commonly believed to have little impact on the market, is still seen as the authority’s determination to maintain pork prices stable and rise within a reasonable range.

 

As for the egg wholesale market, its wholesale prices touch the highest point at 1.65 $/kg on 31st Aug, showing a prominent increasing trend. The average price of eggs is 1.57 $/kg (10.67 yuan/kg) in Aug, unchanged from 1.53 $/kg (10.45 yuan/kg) at the year-on-year period.

 

As the boosting of the autumn semester and two festivals: the Mid-autumn Festival and the National Day, egg consumption demand is heating up. Besides, some regions are restricted by the Covid-19 control, bringing up more willingness of residents to stock up on eggs at home. The breeding costs also increase as the price of corn goes up. It’s estimated that egg prices may run at a high level short-term and enter the de-overcapacity period if future epidemic control measures relax.