Rising pork prices heightens inflation concerns (3)

09:36, June 16, 2011      

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A shortage of pigs and rising feed prices will remain as problems in the short term, and pork prices will probably remain high for sometime, Feng said.

The entire live pigs supply cycle needs about 12 months, thus the supply shortage will linger for a while, Feng explained.

Yao Minpu, director of the Swine Industry Association of the CAAA, believes that corn prices will keep rising, which may also boost pork prices since corn is the main feed for pigs.

"Pork prices account for a large proportion of China's food prices, which take up to 30 percent of the CPI, so high pork prices will definitely lift the CPI," said Li Tiegang, a professor with School of Economics of Shandong University.

"An increase of 20 percent in pork prices will drive up the CPI by 0.6 percentage points," said Li Mingliang, an analyst at Haitong Securities.
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