Chinese red meat prices increase

redmeat  n0nickChinese wholesale beef prices shot up during August 2013 and bounced back to its highest level on record, which was registered in February 2013 at US$8.84 per kg

Sheep meat prices hit an all-time high at US$9.22 per kg, according to the Chinese Ministry of Agriculture.

The continued rising red meat prices drove the average prices for beef and sheep meat during the first eight months of 2013, up 36 per cent year-on-year for beef and 16 per cent for sheep meat.

While chicken carcase prices during August were down slightly (one per cent) in July, pork prices were up six per cent.

However, pork prices still remained relatively steady, with the average prices during the first eight months of 2013 staying three per cent lower than the corresponding period last year.

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