August 22, 2008

Whole beef prices inched up in Taiwan during August compared to the same period last year, partly due to the return of US beef to South Korea and robust demand for Australian beef from other markets.

Average chilled import prices rose 9 percent while frozen products climbed 8 percent.

Rising demand for manufactured beef in international markets also increased frozen manufactured beef prices in Taiwan. Australian 85CL (chemical lean) trimmings price rose 10 percent on-year to NT$132 per kg, while New Zealand 85CL trimmings price soared 10 percent on-year to NT$128 per kg.

In addition, wholesale chicken and pork prices also increased since early 2008 in Taiwan, due to supply shortages from China and rising grain costs. Local chilled chicken and pork loin values during August rose 24 percent and 33 percent on-year, respectively, to NT$229 per kg and NT$166 per kg.

US$1 = NT$31.3972 (August 22, 2008)