Pork prices soar around the world because of the Chinese crisis

Barbecue, chorizo ​​and German sausage could cost more in the coming months, while pork prices soar because of a virus that affects the Chinese pork industry.

Meat processors around the world are selling more pork to China to address the shortage caused by an outbreak of African swine fever. The consequence is a tightening of supply in the United States and Europe, resulting in higher prices. The trend is expected to continue as the disease spreads rapidly throughout China, the world's largest producer and consumer.

Retail prices for boneless ham in the United States hit US $ 4.31 per pound in March, the highest value since 2015, according to data from the Ministry of Agriculture. In the European Union, wholesale pork prices increased by 16% in two months.

In China, the effect is more serious. Pork prices in the country can skyrocket by more than 70% in the second half of this year, said a Ministry of Agriculture official this week.

"Some of the meat that went to the United States is now going to China because it's paying more," Jens Munk Ebbesen, director of food safety and veterinary affairs at the Danish Council of Agriculture, said on the phone. agriculture and food.

The disease will have considerable effects, ranging from an increase in food prices to an increased demand for other meats such as chicken and beef. Pig production in the country. According to a report by Rabobank International, this figure could fall by 30% this year.

China recently made its largest weekly purchase of pork from the United States and shares of JBS, the world's largest meat producer in terms of sales, increased 8% this week.

The additional demand is likely to benefit farmers, who can sell their hogs at higher prices. Producers can start raising more livestock, but the process takes time.

"It will be a good time for producers," said Didier Delzescaux, director of the French pork council, Inaporc.