Pork prices are expected to remain high but are also unlikely to rise sharply until October, as the breeding stock of live hogs and breeder sows is low, the National Development and Reform Commission (NDRC), the nation's economic planner, said on Sunday.
In March, the average price of pork in 36 large and medium-sized cities was 33.9 yuan ($5.2) per kilogram, up about 20.2 percent on year-on-year basis, the NDRC said in an announcement on its website on Sunday.
In addition, the price of live hogs in March averaged 19.02 yuan per kilogram, represented an increase of 55.3 percent year-on-year, according to the announcement.
The continuous high hog prices have been caused by an adjustment the industry experienced several years ago, it said.
According to the NDRC, the breeding stock of live hogs in March saw a 0.9 percent month-on-month increase while the stock of breeder sows held steady. The agency cited statistics from the Ministry of Agriculture.
The volume of the breeding stock of live hogs has an influence on market prices for pork.
As the stock volume increases, there will be a growing supply of pork products in the market and prices are likely to decline, according to the announcement.
Also, hog prices are not likely to rise sharply thanks to a low season for pork consumption, breeding costs and the fact that the prices of alternative products will also decline or stay still, the NDRC said.
