Consumers to pay more for pork?

 

Consumers may have to opt for other types of protein as pork prices are expected to rise.

PETALING JAYA: Consumers could end up paying more for pork, as farmers have increased livestock pork prices to RM100 per 100kg, the Federation of Livestock Farmers’ Associations of Malaysia said.

Its president Tan Chee Hee said the price hike is due to the increase in operating costs at pig farms, China Press reported.

The surge, which he said was the highest increase “in history”, was due to the unstable price of animal feed.

“Raw materials are very expensive and operating costs are too high, thus total costs have gone up 50% to 60%. If we do not increase prices, the pig farms will shut down one after another,” the Chinese daily quoted him as saying.

Tan believed the price increase would see a jump in retail and wholesale prices, although he could not be certain as sellers had different selling prices.

He explained that pork prices were usually based on supply and demand with the operating costs affecting the profit margin. A high operating cost, he said, would see farmers incur losses.

Tan said while pig farmers did not want to transfer the rising cost to consumers, they were left with little choice.

It did not help that demand for pork was low.

However, the pig farmers were doing their best to keep costs under control, he said. - FMT