Ironically, the Chinese Year of the Pig has seen a dramatic reduction in China’s hog population as Asian swine fever saw hundreds of thousands of animals culled.

The Chinese government is encouraging provinces to begin pig breeding to help populations recover and is investing in supplies of pork ahead of the Lunar New Year’s holiday in 2020.

Pork prices surged on reduced supply, and we’ve seen a 10 percent increase in global food prices, per FAO’s monthly food price index, to the highest level in nearly two years. In particular, global meat prices have climbed 18 percent to their highest level in eight years.

Pork exports to China

Source: USDA, McKeany-Flavell
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