November 22, 2007

Taiwan to create strategies to stabilise poultry prices

The Taiwanese Council of Agriculture (COA) will generate funds and create a quota management system to stabilise prices for poultry amid sharp market fluctuations.

Taiwan's soaring feed prices pushed the COA to implement measures to offset the poultry industry's losses.

The COA and the local poultry industry agreed that starting 2008, each side would contribute US$30.8 million each to create a fund within 3 years. This fund will tackle imbalances in demand and supply in line with a quota-based management system.

The system will require local pig, chicken, duck, dairy, sheep and geese farmers to report the number of the animals they raise from 2008, and assess their market supply in the coming years.

The COA will also submit law amendment proposals to the government for the approval of the fund and quota management system.