Meat Prices Seen Rising as Deadly Virus Wipes Out Chinese Hogs
- Rabobank says Chinese pork production may drop about 30%
- Prices of all proteins will increase ‘substantially’
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Meat prices -- whether it’s chicken, beef, seafood or even fake meat -- are likely to rise because of a global shortages caused by a deadly hog virus that’s sweeping across China.
That’s according to a new report by Rabobank, which predicted widespread knock-on effects for the agriculture industry globally as African swine fever decimates Chinese hog farms. More than a million hogs have been culled in East Asia since the disease first appeared in August, and the consequences are already reshaping global trade.