Pork Prices

China's live pig prices have plunged to their lowest in nearly eight years, averaging 11.05 yuan (US$1.60) per kilogram during the third week of March, due to a supply glut from huge industrial farms and a post-holiday drop in consumption. Data from China's Ministry of Agriculture and Rural Affairs shows a 2.9 per cent weekly decline and 28 per cent year-on-year fall. Pork prices also fell to 22 yuan per kilogram last week.