China's Pork Price Hits 8-Year Low, Official Media Calls for Scientific View on 'Vegetables More Expensive Than Meat'

China's Economic Daily published an article today stating that pork prices have recently become 'exceptionally affordable.' Data shows that in the fourth week of March, the national live hog price was 10.68 yuan per kilogram (approximately NT$47.7), a year-on-year decrease of 29.8%, hitting a new low in recent years. Pork prices were 21.52 yuan per kilogram, a year-on-year decrease of 17.8%. The price of a few types of vegetables was higher than ordinary pork, leading to the generalization 'vegetables are more expensive than meat.'

The article points out that in many developed countries, vegetables are generally more expensive than pork. Moreover, not all vegetable prices are higher than pork prices; currently, the national average price of vegetables, whether wholesale or retail, is far lower than pork prices.

The article further states that 'vegetables are more expensive than meat' is a result of cyclical fluctuations in live hog prices and varietal and seasonal fluctuations in vegetable prices. Although this is a structural phenomenon, it is not uncommon. Currently, the market has ample supply and a wide variety of vegetables, with no shortages. In the fourth week of March, the national average wholesale price of 28 types of vegetables monitored by the Ministry of Agriculture and Rural Affairs was 4.82 yuan per kilogram, a decrease of 1.2% from the previous week and an increase of 0.4% year-on-year.

The article notes that the focus of 'vegetables are more expensive than meat' is mainly the lower pork prices. The reason is ample supply encountering a slack demand season. From the perspective of the pig cycle, the downward trend in pig prices has continued for some time, and the low-level operation period of this cycle has been prolonged.

It is worth noting that persistently low live hog prices, coupled with rising feed prices, have put dual pressure on the breeding sector, leading to industry-wide losses starting from October 2025. The article calls on farmers to resolutely eliminate backward sows with low farrowing rates and poor efficiency, 'proactively reduce inflated capacity to a reasonable range, and rationally view market conditions, selling at opportune times.'

Singapore's Lianhe Zaobao reported that China's Ministry of Commerce, National Development and Reform Commission, and Ministry of Finance announced on April 2nd that they would soon launch the second batch of central reserve frozen pork procurement, planning to stockpile 10,000 tons of frozen lean pork meeting national standards. This is the second intervention by Chinese officials within a month, following the first round of stockpiling in March, to alleviate the pressure of falling pork prices. (Edited by Zhu Jian-ling) 1140407