It is likely that China’s pig population will shrink by almost one-third as African swine fever continues to decimate the country’s pig farms. The outbreak is expected to affect global meat markets as China prepares for food supply shortages. The Ministry of Agriculture estimates that pork prices will rise by roughly 70 percent by the end of the year.
“They have half of the world’s pig population, and they’ve lost 30 percent of that production,” reported Christine McCracken, an analyst at Rabobank.
As a result of the outbreak, the World Pork Expo was cancelled earlier this month due to fears that the fever could spread.