Taiwan's hog trading price hits record high amid shortage

Taipei, March 12 (CNA) The hog trading price in Taiwan reached a record-high NT$90 (US$3) per kilogram last week, amid a domestic supply crunch and a reduction in pork imports, the Cabinet-level Council of Agriculture (COA) said Sunday. Chiang Wen-chuan (江文全), deputy head of the COA's Department of Animal Industry, told CNA that the current shortage was a result of fewer piglets reaching slaughter age beginning in the latter half of 2022, as well as higher operating costs due to widespread pig house renovations and rising feed prices. Compared with a year ago, when Taiwan's hog trading price sat between NT$70-NT$80 per kg, consumers will likely have to spend more on pork until at least around May, with major holidays such as the Tomb Sweeping Festival and Dragon Boat Festival set to drive up demand. It is why Taiwan currently sees a shortage of roughly 800 pigs per day, Chiang said, forecasting that the average pork supply in H1 2023 is likely to drop by 4-5 percent from H2 2022. ...