Chinese meat processor Zhongpin has said it expects increased demand to drive up the price of its chilled and frozen pork products.
The company said that, with China’s GPD up 8.7% last year, economic expansion coupled with seasonal increases in demand are expected to result in increased market prices for pork products.
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Hog and pork prices have been trending up for the past two weeks, which Zhongpin described as a “turning point” for hog and pork prices in 2010.
The company said that it has recently opened a new chilled and frozen pork facility in Tianjin in order to capitalise on increased demand for pork.
“Considering all factors, the outlook for Zhongpin continues to be very encouraging for higher sales, profits, cash flow, and return on assets,” the company insisted.
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By GlobalData
