The Chinese Ministry of Commerce said on Monday that the country's pork shortage problem will start stabilizing come the second half of 2020 as the government continues to implement measures to prevent African swine fever (ASF).
According to China Daily, the ministry noted that an increase in imports as well as stabilizing domestic production will also help improve the country's shortages in pork and pork products.
As part of the efforts in easing the country's pork-related problems, the Department of Market Operation and Consumption Promotion said it will keep releasing frozen pork reserves.
The move will be made in line with efforts to curb rising pork prices as farmers and consumers alike have been struggling with the price hikes over the past few months.
This year was a big break for global suppliers as the country ramped up importing of pork and other meat products. The ministry said that to date, over 1,000 global pork suppliers have already signed up to help ease China's pork needs.
It is further expected that this year, China's overall met imports will exceed six million metric tons. The numbers are consistent with previous data stating that the Chinese market imported 1.58 million tons of pork meat during the January to October period.
To help keep down prices during the holidays, pork shipments that arrived this month will be released. The release of pork shipments should help ensure that the Consumer Price Index will stay within reasonable levels.
For Li Guoxiang, researcher at the Rural Development Institute of the Chinese Academy of Social Sciences, pork prices will no longer have an impact on inflation during H1 2020 as the government continues to roll out pork reserves.
The Ministry of Agriculture and Rural Affairs has also pledged that it will assist pig farmers in various aspects of restoring production to help meet the country's demand for pork and other by-products.
Among the countries expecting to benefit from China's pork crisis is the United Kingdom. British pork exporters have projected that the Chinese market's strong appetite for pork will ramp up exports.
According to CNBC, Britain already shipped over 45,000 metric tons of pork, marking an almost-double hike compared to China's imports from the country last year. The numbers have also pushed U.K. to the top of the list in China's biggest hog meat importers.
Andrew Saunders, agricultural director at British meat exporting firm Tulip, said he is expecting sales to China to have jumped by 80 percent year-on-year due to the increase in demand ever since ASF hit the country's hog farms.
Global industry experts further predicted earlier this month that China's demand for pork will hike during the holidays, particularly during the Lunar New Year week since China is known for its deep love for pig meat.
