November 21, 2023

Pork prices surge in Karnataka, India amid supply shortage

Consumers of pork in coastal Karnataka, a southwestern state in India, have seen a 16.6% surge in meat prices, marking the highest increase in recent years, The Times of India reported.

Swine owners and meat suppliers jointly decided to raise the price from INR 240/kg to INR 280, effective from November 13. The primary factor behind this significant hike is attributed to a constrained supply of the popular Duroc swine breed.

Farmers note that the scarcity of Duroc swine has persisted for several months, compelling the price adjustment. Factors such as rising costs of fuel, feed, and other essentials in swine farming have also contributed to the decision. The last price adjustment occurred in 2019, with a modest increase of INR 20 from INR 220.

This surge in pork prices is expected to impact the catering and food industries, leading to potential increases in food order rates. Swine owners attribute the shortage to fellow breeders selling their stock to wholesalers over the past three months, creating an imbalance between supply and demand. The situation is further exacerbated by the fact that piglets will take another six to nine months to reach butchering age.

A seasoned meat seller in the industry highlighted the scarcity of the Duroc breed and predicted that prices could escalate to INR 350/kg in the coming month in Mangaluru. The existing supply in Mangaluru is also being transported to Bengaluru, which faces a similar shortage and price surge.

-      The Times of India