Taiwan to monitor skyrocketing price of imported corn

The Council of Agriculture (COA) says it will strictly monitor the rising price of imported corn which has sparked an outcry among Taiwanese livestock farmers, local media reported.

The escalating feed cost may bring a direct impact to livestock producers and lead to further increasing pork and chicken selling prices in the coming months.

The price of corn has jumped to NT$8.20 per kilogramme during the past three months, according to the National Animal Industry Foundation (NAIF).

Corn, currently the largest factor in feed cost, has seen a 25-percent increase in price as a result of surging oil prices and the flood in Central America. The rising feed cost could affect the market price as the demand for pork grows during the winter, says NAIF.

Since the US is the largest corn supplier for Taiwan's pig farmers, the spike in imported corn price has increased the cost for farmers, said Pan Lian-chou, the director of R.O.C. Swine.

In an effort to reduce the cost, R.O.C. Swine has asked COA to release expired brown rice as a supplemental feed ingredient for swine farmers.

R.O.C Poultry Association director Chen Mu-shih says the growing feed cost during the past few months also added to the burden of chicken farmers. Chen also adds that it may lead to higher chicken prices in the near future.

US$1 = NT$32.25 (Nov 25)