June 3, 2008

Taiwanese government keeps hands-off policy from pork prices

The Taiwanese government will not intervene with pork price hikes as of now, the Council of Agriculture chairman, Chen Wu-Hsiung, said Monday (June 2, 2008).

Chen said there is currently no pork supply crisis in the country. He explained that pig farmers have to raise prices to reflect escalating input costs.

If the government will hold down the price of pork, pig farmers will not raise more pigs which could result in a shortage down the line, Chen added.

Meanwhile, Taiwan's seafood prices have also gone up as fishermen find the fuel costs for their ships too high for them.

The council said that it would partially subsidize fuel and encourage fishermen to renew their fleet to boost efficiency.