Covid Savages Chinese Pork Demand and Clouds Long-Term Outlook
- Pig prices have plunged and farmers are now losing money
- Impact of surge in Lunar New Year travel is in the balance
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‘Tis the season in China when whole hams and cured sausages should be flying off the shelves as households prepare for the Lunar New Year, the biggest festival in the nation’s calendar.
But as hundreds of millions grapple with an unprecedented Covid outbreak, the country’s fondness for the celebratory dishes that usually accompany gatherings with friends and family is in deep freeze. The price of pork, China’s favorite meat, has plunged.