Statistics from the Ministry of Agriculture show that beef prices were at 23.89 yuan per kilogram on November 29, or 44.92 percent higher than the same period last year. From January to October this year, beef prices averaged at 21.49 yuan per kilogram, reflecting an increase of 16.6 percent from the same period last year.
Liu Qiangde, a senior official with China Animal Agriculture Association (CAAA), noted that tight beef supplies cannot meet increasing demands and triggered the large price hike.
Meanwhile, cattle farmers are eagerly calling for insurance due to high risks in the cattle-rearing business. Li Fucheng, manager of a cattle-rearing company in Hebei Province, said that rearing cattle is much more risky than rearing chickens or pigs because cattle have longer growth periods, up to 4 years. Therefore, cattle farmers have much stronger need for insurance.
For more details, please read the full story in Chinese. (http://220.127.116.11/www/pages/html/2007-12/04/content_6682853.htm)
(China.org.cn December 4, 2007)