China to Encourage Hog Farmers to Reduce Capacity After Price Slump

China will "guide" farmers to reduce hog production capacity as it steps up regulation of the industry, the agriculture ministry said on Tuesday, after an aggressive expansion drive led to an oversupply of pigs and heavy losses.

Big agribusinesses in the world's top pork producer have modernised farms and expanded pig herds so rapidly in recent years that a downturn in demand led to plummeting hog prices, mounting losses, and rising debt last year.

Farmers lost an average of 76 yuan ($10.60) per hog in 2023...

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