July 21, 2011

 

Thailand's pork prices to decrease in end July

 

 

Pork prices in Thailand are expected to decline by end July while the Ministry of Commerce is attempting to stop smuggling of live pigs to nearby countries due to deficiency in domestic supply.

 

Permanent Secretary for Commerce Yanyong Puangrach ascribed the rising pork prices to the epidemic, leading to the reduction of pork supplies by 20% while farmers are forced to send small pigs to slaughterhouses, leading to higher production costs.

 

Live pig price in Nakhon Pathom, Ratchaburi and Chon Buri provinces increases to THB75-76 (US$2.52-2.55) a kilogramme from THB71-72 (US$2.39-2.42) a kilogramme previously while pork price increases to THB140-145 (US$4.71-4.88) a kilogramme, especially in the central region such as Bangkok, Lop Buri and Ang Thong.

 

Illegal exports of live pigs to neighbouring countries remain high from around 100,000 pigs last year to 200,000 this year since pig and pork prices in neighbouring countries are more expensive than Thailand; however, Thai economy has enjoyed a higher trade surplus due to the exports.

 

The Ministry of Commerce has recently taken legal action against many smugglers; however, the measure can partially solve the domestic pork shortage.

 

Pork price nonetheless is expected to reduce by the end of this month with adequate supplies in the market.

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