From January 22 to 28, the retail price of pork in 36 large and medium-sized cities across the country increased by 0.3% month-on-month. Pork prices rose the most in the eastern region, with Jinan, Xiamen and Qingdao rising by 3.6%, 3.1% and 1.5% respectively.
Analysts believe that both supply and demand of pork will shrink in 2024, but decline in supply may be greater than the decline in demand. The market begins stocking up for the Spring Festival as short-term demand picks up.