May 29, 2008

Taiwan's Taisugar to boost pig supply as demand heightens

Taiwan's state-owned Taisugar will supply more pigs to the local market to meet the growing demand for pork, the Commodity Price Stabilization Commission said.

Taisugar is urged to supply 600 more hogs per day in the run-up to the Dragon Boat Festival to meet the growing market demand, Government Information Office Minister, Vanessa Yea-ping, Shih said.

Shih explained that Taiwan is trying to stabilize the price of pork during the Dragon Boat Festival.

Furthermore, Taiwanese officials will offer subsidies to help farmers face surging fertiliser prices.

As of May 17, Taiwan's wholesale price of pork on the market hit an all-time high of around TWD7,721 (US$253) per 100 kilogrammes, up 62 percent on-year.

Shih made the remarks after the first meeting of the Commodity Price Stabilization Commission convened by Premier Liu Chao-shiuan on May 20.

The commission will meet every two weeks to stabilize domestic commodity prices.