Huge hog sector struggles with excess production
Chongqing — China’s huge hog sector is struggling with excess production after millions of small, often first-time, pig farmers entered the industry to capitalise on record profits during a swine-fever related shortage.
Wu, like many others, entered pig farming for the first time in 2019, after China’s leadership called for an urgent recovery after a nationwide outbreak of the deadly African swine fever virus that halved the country’s 447 million-strong herd. All have slowed, or even stopped planned expansions. Tech-bank Food is leasing out some of its newly built farms and halted construction of others, while delaying payment of management salaries, it told investors.
“The current market is caused by millions of farmers’ speculative behaviour towards the African swine fever-related price expectation,” said Pan Chenjun, senior analyst at Rabobank.With a bigger breeding herd now than before African swine fever struck, government officials last month issued a rare instruction to farmers to eliminate their less efficient sows. Large players have been getting rid of sows for several months and some others are following suit.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Daily news update: Election results trickle in, huge fuel hikeHere’s your morning news update: An easy-to-read selection of our top stories. Stay up to date with The Citizen – More News, Your Way.
Read more »
Diversification: the only free lunch in investingGold might not be perfect, but it can balance out disinflationary boom assets
Read more »
Diversification: the only free lunch in investingGold might not be perfect, but it can balance out disinflationary boom assets
Read more »
Naked, decomposed body of a man found on North West farmPolice were called by a local farmer after a worker discovered the dead male.
Read more »
Municipal finances in state of crisis | CitypressDebt-ridden, ineffective municipalities need to take a datacentric approach to managing their finances, say experts.
Read more »
Food security: Cities must set up markets for small-scale farmers and traders, study urgesLocal governments must take a more proactive role in supporting small-scale food traders and producers, particularly in towns and cities, a study led by the UWC has found.
Read more »