December 7, 2006

Egg and pork prices rising in Singapore due to feed expenses

Prices of eggs and pork in Singapore have gone up with the approach of the festive season amidst higher feed prices in the producing countries.

Hong Tengfang, the chairman of Singapore Egg Association said Malaysia's feed prices have risen 50 percent recently, bringing up prices of chickens. Most farms have thus brought their chickens to slaughter early to cash in on the profits, which resulted in an acute shortage of eggs.

A supplier said that this is the traditional period when egg prices would be high, not only in Malaysia and Singapore but in Indonesia as well.

Singapore imports about 3 million eggs from Malaysia every day, which accounts for 60 to 70 percent of total supply.

Increase on egg prices is expected to last through the Chinese New Year and is expected to be higher than the last festive season.

Meanwhile the country's pork prices have risen 20 percent, as Australia, its major pork supplier continues to suffer from drought. The worsening drought in Australia has caused feed prices to rise more than 70 percent in the past half year, which affected pig rearing costs. Pork prices in Australia have risen 15 percent on-year.

Three-quarters of the pork in Singapore comes from Australia in the form of chilled or frozen pork. Pork is one of the most popular meats in Singapore, just behind chicken and fish. Chicken and fish prices have remained stable so far.