June 21, 2012

UK live pigs, pork prices down in May

The average retail price of fresh lean pork in the UK dipped 5.4% while the average wholesale price of live pigs in May was 13.6% down on October.

Secretary for Food & Health Dr York Chow told legislators the price of chilled pork also declined. The average import price of chilled pork fell 11.9% between October and April, while the average retail price of chilled lean pork dropped 6.3%.

Chow said the difference between the reduction of the wholesale and retail price is due to commercial considerations.

Pork retailers, when determining the retail price of pork, consider operational costs like transport, wages and rent, and affordability, on top of the purchase price and product quality, he said, hence when the wholesale price goes down, retailers may not make the same level of reduction at the same time.