Earlier this year Beacon, ‘Britain’s leading procurement company’, reported the cost on bacon was about to soar following an outbreak of African swine fever in China, leading to an increased demand of British stock.
China is estimated to have culled 200 million pigs as a consequence of the outbreak over the last 12 months.
According to the Fairfax Market Report for August, European exports into China are rising 88% year-on-year. Chinese pig prices have continued to rise in August, reaching a record high of +13% since the start of the month. The average price for European pork between May and July has risen 18% against the previous three-month average.
Christopher Johnson, food category manager at Beacon, said: “Brexit has been a driving force behind the price of pork throughout 2019, but with the outbreak of ASF showing no sign of slowing down, pressure is still mounting on the market.
“The growing demand that faces European suppliers makes it increasingly likely that prices will continue to rise. Beacon will continue to work closely with its leading suppliers to monitor these increases to ensure that demand does not outstrip supply and to mitigate price increases as much as possible.”
African swine fever is a contagious disease impacting domestic and wild pigs throughout China. The disease is causing a shortage of pork, so China are importing more from other countries and turning to alternative proteins.