Taiwan's wholesale pig prices soar on limited supply

The wholesale price of pig in Taiwan has been spiralling upward to TWD70 (US$2.2) per kilogram, due mainly to pig farmers having been seriously affected by Typhoon Morakot that swept southern Taiwan early last August.

Wang Feng-ming, secretary-general of the Taiwan Swine Association, said that the domestic pork market usually sees an off-season after the Tomb-Sweeping Festival and before the Dragon Boat Festival that falls on the 5th of the fifth lunar month, but this is not the case this year.

Wang said it will take one and a half to two years for pig farmers in southern Taiwan to resume their normal operations after being undermined by Typhoon Morakot last August. In addition, the unstable weather conditions in recent weeks also caused pigs to eat less and grow at a slower pace. As a result, the market pig supply is tight, causing pig prices to shoot up.

Typhoon Morakot caused the death of 140,000 pigs, and the supply of pigs in the second quarter this year is 120,000 pigs lower than the first quarter. This, coupled with the approaching of the Dragon Boat Festival (now one month away), will further push up pig prices until the arrival of the festival, according to Wang.

The wholesale pig price stood at TWD61 (US$1.9) per kilogram during the Dragon Boat Festival last year, but this year, the corresponding price is likely to soar to TWD72-73 (US$2.3) per kilogram.

At the moment, annual domestic pork consumption reaches around 700,000 tonnes, with 90% supplied domestically and the remaining 10% imported.

The Council of Agriculture will coordinate with the Swine Association to have its member farmers increase pig supply as soon as possible as they can, prior to the Dragon Boat Festival.