A fatal outbreak of infection among pigs in China is expected to hit global bacon prices.

According to official estimates, more than a million pigs have already been culled due to African swine fever. China is the world's largest producer and consumer of pork, so it is predicted that this loss will universally lead to higher prices for pork.

According to forecasts, by the end of the year the number of pigs in the country will be reduced by a third, having lost 130 million heads. The Beijing Ministry of Agriculture said it expects year-on-year increase in pork prices by more than 70 percent in the second half of 2019.

“We are just starting to see the real impact of African swine fever,” said Danish Crown, a leading European producer, and continued that “this could lead to greater opportunities for companies able to export their meat to China, but also higher prices in other countries of the world, as there will be less available pork in their domestic markets. ”

Rabobank, an international financial services provider, has stated that the disease, since its first detection in August 2018, has already spread throughout the province of China. To assess the magnitude of the problem, it should be noted that China’s projected 30 percent loss in pork production is equivalent to the total annual supply of pork in Europe.