Coronavirus Accelerates China's Meat Supply Chain Transformation
Lessons from past outbreaks
Impact along China’s food value chain
The poultry and egg segments, which represent 20% to 30% of China’s total protein consumption, have faced strong downward price pressure. Weeks into the outbreak, wholesale prices fell 5% to 10% for live poultry and more than 20% for eggs. This partly reflects the short life cycles of chickens and minimal shelf life of eggs, prompting producers to sell off their stocks at a time when demand was also down, as consumers stayed home while restaurants and markets were closed.
Pork, which makes up 40% to 50% of the country’s protein consumption, saw wholesale prices rise around 10%. That hike comes on top of already high prices due to the 2018–2019 African swine fever outbreak, which led to the mass culling of pig stocks. Still, the Chinese government has mitigated more severe shortages during the coronavirus outbreak by releasing reserves of frozen pork into the market and allowing some pork producers to resume work after implementing protective measures against the spread of the coronavirus.
Prices for beef and lamb have been relatively unaffected, as they comprise just 5% to 15% of total protein consumption.
Key trends transforming China’s food chain
How food and agricultural companies can respond
Thomas Luedi
Partner based in Bain's Shanghai office
Helen Liu
Partner based in Bain's Shanghai office
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