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September 23, 2009

 

Hong Kong pork prices may continue rising

 

 

Hong Kong's pork retailers may be forced to increase prices as surging wholesale prices show no signs of stopping. 

 

Two vendors paid about 10-percent more for carcasses in the past month, with the price increasing from HK$990 per 100 catties in the summer to HK$1,100 over the past few weeks.

 

The Pork Traders General Association warned that wholesale prices are expected to increase by another 10-20 percent during the winter, when pork demand will rise.

 

Pork prices have increased 30 percent in the past four months, but are still 16-percent lower than a year ago.

 

The price increase may be related to China's National Day celebrations and other seasonal factors, said a spokesman for the Agricultural Ministry.

 

The 10-percent price increase was also blamed on falling pig supply, said a Causeway Bay vendor who sells his pork at HK$28 per catty, but warned he could add HK$2 to HK$4 if the situation fails to improve. 

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