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Livestock prices set to drop further in 2009
Source: Xinhua |
January 4, 2009, Sunday
|
Print Edition
Print Edition
THE prices of China's major livestock products will continue to drop in 2009, according to an official from the Ministry of Agriculture.
Wang Zhicai, director of the ministry's department of stock breeding, said at a recent national breeding and veterinary conference that live pig, milk and other major livestock products had experienced constant drops in price in 2008, and the weakness was expected to continue in the new year.
Statistics from the ministry showed that by November 2008, the average pork price had been falling for nine months in a row, down 25.4 percent compared with its peak in February.
Wang said that consumers affected by the international financial crisis will spend less on livestock products. On the other hand, in 2008 the number of progenitive sows increased considerably throughout the country, leading to obvious overstock.
He expected that in the first half of 2009 the supply of live pigs would rise sharply.
He said if not handled properly, the livestock industry might suffer serious losses, leading to an industry recession.
The ministry was expected to encourage standardized large-scale breeding systems, as well as monitor market supply and demand to ensure steady development of livestock products.
Wang Zhicai, director of the ministry's department of stock breeding, said at a recent national breeding and veterinary conference that live pig, milk and other major livestock products had experienced constant drops in price in 2008, and the weakness was expected to continue in the new year.
Statistics from the ministry showed that by November 2008, the average pork price had been falling for nine months in a row, down 25.4 percent compared with its peak in February.
Wang said that consumers affected by the international financial crisis will spend less on livestock products. On the other hand, in 2008 the number of progenitive sows increased considerably throughout the country, leading to obvious overstock.
He expected that in the first half of 2009 the supply of live pigs would rise sharply.
He said if not handled properly, the livestock industry might suffer serious losses, leading to an industry recession.
The ministry was expected to encourage standardized large-scale breeding systems, as well as monitor market supply and demand to ensure steady development of livestock products.
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