Pork prices fall, the agency predicts that the CPI will drop 0.5% year-on-year in February

　　China-Singapore Jingwei Client, March 10 (Meng Zhang) On the 10th, the National Bureau of Statistics will announce the Consumer Price Index (CPI) for February 2021.

Many institutions predict that the year-on-year growth rate of CPI in February will drop slightly and continue to be in a negative range.

　　In January 2021, the national consumer prices fell by 0.3% year-on-year.

For the upcoming February CPI data, Wind data shows that as of March 9th, 14 institutions have predicted an average of -0.5% for February's CPI year-on-year increase.

Among them, the maximum predicted value is 0% given by Huatai Securities, and the minimum is -1.9% given by Shanghai Securities.

　　Institutions generally believe that the rapid decline in pork prices in food items is the main reason for the fall in CPI.

　　According to the Haitong Securities Research Report, the prices of pork and eggs have dropped significantly since February.

Vegetable prices have rebounded significantly in the early stage, but they have also shown a downward trend recently.

　　According to the monitoring of the Ministry of Commerce, the wholesale price of pork from February 1 to 7, February 15 to 21, February 22 to 28, and March 1 to 7 decreased by 2.4% and 5.9% respectively from the previous week. , 8.7%, 0.4%.

　　　Data map.

Photo by Sino-Singapore Jingwei

　　On March 8th, Huachu.com issued the "Notice on the Release of Central Reserve Frozen Pork on March 10, 2021", stating that on March 10, it will organize a bidding transaction for the central reserve of frozen pork with 10,000 tons.

A reporter from Sino-Singapore Jingwei found that this will be the 9th launch this year, and the cumulative amount will reach 210,000 tons.

　　Xin Guochang, the second-level inspector of the Bureau of Animal Husbandry and Veterinary Services of the Ministry of Agriculture and Rural Affairs, predicts that in the first quarter, the national pig slaughter will increase by about 40% compared with the same period last year. Looking at the above, pork prices will also decline year-on-year.

　　Haitong Securities analyzed that the recovery of live pig production is in good momentum, and the stock of breeding sows and the year-on-year growth rate are at a high level.

In the context of sufficient supply and stable expectations, pork prices are expected to continue to fall.

(Zhongxin Jingwei APP)

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