Global pork shortage
Being the largest producer and consumer of pork in the world, the Chinese stocks dictate the world’s access to pork.
Earlier this year, there were reports of the initial spread of the African Swine Fever (ASF) across China, resulting in a cull of 950,000 pigs since the first outbreak, but predicted that this was a severe under-report.
The approximate rate of the decline in access to pork is unknown but is predicted to range between 6 – 30 per cent.
In an effort to avoid profit loss, some farmers rushed their stock to markets early, which caused the noticeable price of pork to decrease in Q1 2019.
The African Swine Fever is fast sweeping the Asian region, with reports of around 366 outbreaks in Vietnam and 46,600 culls of pigs.
With the potential supply gap of pork on the horizon, many exporting countries are scrambling to fill the gap, whilst isolating the outbreak of ASF.
African Swine Fever has indeed reached past Chinese borders, into neighbouring Vietnam and Mongolia reporting infection in their pork supplies.
What is African Swine Fever?
The disease affects all wild and domestic breeds of pigs, and can be fatal to those infected.
There is currently no vaccine available to immunize current stock against the highly contagious disease.
Australian border force is on a high alert for any travelers with meat products or illegal pork to be confiscated and destroyed.
What does this mean for the price of pork for years to come?
Unfortunately, with the supply of pork being in short from the affects of African Swine Fever, it is predicted that the price of pork will indeed increase, especially on exports from China. Some may ask – possibly for how long will this affect the price of pork?
Will an outbreak of this capacity, it is predicted that the disease will continue to influence global pork prices for at least the next few years.
The disease is not harmful to humans; but highly contagious amongst pigs.
Is Australia’s pork supply protected?
With one of the highest standards of border security in the world, Australian border force is on a high alert for any travelers with meat products or illegal pork to be confiscated and destroyed. This is in an attempt to reduce the risk to Australian supplies and any contaminated imports.