From today's South China Morning Post, signs that the pressure on food prices may moderate a little.
The mainland has reported a sharp decline in cases of blue-ear pig disease last month as well as an easing of pork prices. In July, 47,000 pigs were affected by the disease and 13,000 pigs had died, down 51.5 per cent and 35.9 per cent respectively from the previous month, Ministry of Agriculture spokesman Xue Liang told a news conference yesterday. The average pork price last week was 1.4 per cent down on the previous week, according to the Ministry of Commerce.
It was the second consecutive week of easing pork prices, which had almost doubled in the past seven months, according to Xinhua. "The epidemic across the country has been under greater control," Mr Xue said...
...Mr Yu said there were signs that farmers' confidence was gradually recovering as the number of live pigs in pens rose 7.3 per cent last month compared with the same month last year and up 2.1 per cent from June.
Sales of pig feed also rose 6 per cent year on year last month and by 5.2 per cent from June, he added. Wang Zhicai, head of the Ministry of Agriculture's livestock husbandry department, said prices of pigs and pork had shown signs of easing, although they were still high - which he said was a sign that the industry had started to recover.
The price came off may simply becasue price control or demand is less because ppl are shifting to Beef or chicken, there was a report on Retuers a few days back saying actually the disease is spreading and mainland media is not allowed to report.
Michael Pettis is a professor at Peking University's Guanghua School of Management, where he specializes in Chinese financial markets. He has also taught, from 2002 to 2004, at Tsinghua University’s School of Economics and Management and, from 1992 to 2001, at Columbia University’s Graduate School of Business. He is a member of the board of directors of ABC-CA Fund Management Co., a Sino-French joint venture based in Shanghai.
Pettis has worked on Wall Street in trading, capital markets, and corporate finance since 1987, when he joined the Sovereign Debt trading team at Manufacturers Hanover (now JP Morgan). Most recently, from 1996 to 2001, Pettis worked at Bear Stearns, where he was Managing Director-Principal heading the Latin American Capital Markets and the Liability Management groups. He has also worked as a partner in a merchant banking boutique that specialized in securitizing Latin American assets and at Credit Suisse First Boston, where he headed the emerging markets trading team. Besides trading and capital markets, Pettis has been involved in sovereign advisory work, including for the Mexican government on the privatization of its banking system, the Republic of Macedonia on the restructuring of its international bank debt, and the South Korean Ministry of Finance on the restructuring of the country’s commercial bank debt.
Pettis is a member of the Institute of Latin American Studies Advisory Board at Columbia University as well as the Dean’s Advisory Board at the School of Public and International Affairs. He is the author of several books, including The Volatility Machine: Emerging Economies and the Threat of Financial Collapse (Oxford University Press, 2001). He received an MBA in Finance in 1984 and an MIA in Development Economics in 1981, both from Columbia University.
Subscribe to this Site
Comments (1) for "Pork prices"
January, 2008
.