June 23, 2008

Taiwan's pork prices surge after Dragon Boat festival

Taiwan's Dragon Boat Festival on June 8 lifted the local demand for pork, resulting to higher domestic prices.

Furthermore, the festival has also driven beef prices to go up.

Australian frozen beef in Taiwan increased by 20 percent in value with the shin shank price moving from TWD135/kilogramme to TWD165/kg and intercostals from TWD185/kg to TWD215/kg.

Importers are absorbing most of the increase, due to concerns about price resistance from buyers, observers said.

US$1 = TWD30.39 as of June 23, 2008