SINGAPORE (Reuters) — China is likely to import about three million tonnes of pork in 2017, similar to last year’s level despite rising domestic production, a senior industry official said.
“Global prices are still attractive for importing pork into China,” said Juhui Huang, Shanghai-based vice-president of Brazilian food conglomerate BRF SA.
China, which accounts for half of the world’s pork consumption, has been rebuilding its pig herd following widespread culling in 2014 when prices were low.
China’s Dalian Commodity Exchange is planning to launch hog futures by the end of 2017, said Wang Fang Hai, chief executive officer of the exchange.
Huang said imported pork is mainly used for processing into sausages and bacon.
“People prefer local pork for fresh meat because of taste preferences,” he said.