A plague of epic proportions is ripping through the global pig population, and CNBC is warning that this unprecedented outbreak of African swine fever “could lead to significant shortages” of pork in the global marketplace. As you will see below, the price of pork has already risen 38 percent over the last 4 weeks, and it appears inevitable that it will go a lot higher as this crisis continues to intensify. When the first case of African swine fever was reported in China last August, nobody was really too concerned at the time. But since then it has been spreading like wildfire, and the most recent estimates of the spread of the disease that we are getting from the experts are absolutely terrifying.
China consumes 49 percent of all pork produced in the world, and they slaughter approximately 700 million pigs a year.
So we are talking about the primary source of protein for the most populated country on the entire planet.