Publication Date : Tuesday 8 April 2014 17:24
Pork to rise in Japan as deadly virus hits largest producers
The most deadly outbreak of a hog virus in ۱۸ years in Japan is raising pork prices and may boost imports from the biggest buyer, supporting a record rally in Chicago.
The Agriculture Ministry has discovered ۱۸۶,۸۲۵ cases of porcine epidemic diarrhea in ۲۵۱ farms in ۱۹ prefectures since it confirmed the latest outbreak of the contagious disease in October. As many as ۳۹,۲۸۵ pigs have died, the highest number of fatalities since ۱۹۹۶, Tomoyuki Takeshita at the ministry's animal health division, said today.
The U.S., Canada, South Korea and Taiwan have also reported outbreaks. More than ۵,۰۰۰ cases have been reported in the U.S., according to the National Animal Health Laboratory Network. American pork production may drop by the most in three decades this year, Rabobank International estimates. Futures climbed ۴۹ percent last quarter, the biggest rally in ۱۵ years, as the virus threatened U.S. production.