July 20, 2007

Hong Kong raises pork prices as shortage continues in China

Hong Kong's wholesale pig suppliers have raised their prices by around 10 percent while the retail price of pork in the city is expected to rise two to four Hong Kong dollars per catty.

Ng Fung Hong Limited, the city's only fresh pork importer from the mainland, attributed the price increase to the pork shortage in Mainland China. The company raise the wholesale price to HKD 1,300 (US$153.4) per 100 catties ( 1 catty=600 grammes/ 100 pounds).

This meant wholesale pork prices have risen about 20 percent since the end of May this year. The city's fresh meat industry association said it is taking measures to deal with the rising pork prices.