A dramatic decline in pork production due to African swine fever in China is contributing to a global shortfall in meat supplies that is expected to drive pork, chicken and beef prices higher into next year.
China’s total swine herd has declined by 45 per cent since the virus was first detected in the northeastern city of Chenyang last August, according to analysis from US financial group INTL FCStone. The disease has now spread to every province in the country.
Though global beef and chicken production is forecast to rise marginally over the coming year, analysts say it will not make up for the fall in global pork production caused by swine fever, increasing prices around the world.
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