Despite setbacks, China is determined to grow its swine industry after taking a massive hit from African swine fever (ASF) in 2018. This has created opportunities for international collaboration, according to a new report from the Iowa Economic Development Association (IEDA).
Tony Wang, IEDA representative in Shanghai, China, said the road to recovery has been bumpy, especially as the country endures complications from COVID-19, the pig cycle, inflation, and other factors.
Following the devastation caused by ASF, China’s pork imports went up significantly in 2019 through 2021. At its peak in 2020, Wang said the U.S. accounted for roughly 14% of China’s pork imports. As China gradually rebuilds its swine herd, however, pork imports have dropped sharply. Still, Wang said lingering impact of ASF combined with the effect of the “pig cycle” and market speculation activities have kept the current pork prices fairly high (around $4.6/kg).
Challenging as it may be, China has set clear targets for building back its swine industry, Wang noted.
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