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China's pork prices have risen to a new high this year. According to latest data, the cost has been increasing for the last 11 weeks.
Zhang Hao owns a fast food restaurant in Hefei, captial city of east China's Anhui province. He says pork prices began their upward trend at the end of June.
Zhang Hao, Restaurant Owner in Hefei, Anhui Province said "The price keeps increasing. And it's expensive. The cost of making a 10 meal box used to be 7 yuan. Now it costs 8 because of rising pork prices."
At a wholesale market in Hefei, shop owners say the pork price has been edging upwards since the Spring Festival in February. 500 grams of pork was 6 yuan on average. Now the average price is more than 8 yuan, which is the highest price since the Spring Festival.
Shop Owner in Hefei, Anhui province said "500 grams of pork sells at more than 8 yuan. It was only 6 and half yuan two months ago."
Market experts say the selling has entered its peak season. Even though prices are rising, sales volumes are also increasing.
Li Tao, Expert of Zhougutui Wholesale Market said "According to our data, around 1700 pigs are sold everyday. That's a 20 percent increase compared with a month ago."
Experts say there are three reasons for the price hike. Firstly, the increasing price of feed means greater costs for farmers.
Secondly, the central government initialized the collection and storage of frozen meat 5 times this year to protect farmers interests.
And thirdly, natural disasters influenced some regions' pig farming, leading to short supply.
- Surging pork prices good for farmers 2010-09-07