TAIPEI (TVBS News) — The recent rising pork prices in Taiwan will likely dampen the upcoming Dragon Boat Festival celebrations.
In early April, pork prices in Taiwan hit a record high during the Tomb Sweeping Festival, with one kilogram costing nearly NT$100.
The main reason for this spike was the increase in raw material prices caused by the ongoing Russia-Ukraine war.
The vice president of the R.O.C. (Taiwan) Swine Association, Lee Tang-chi, explained, "The prices of not only corn but also soybeans, gluten, and other raw materials have increased, as have the costs of minerals and vitamins for swine, making it extremely expensive for us farmers."
As a result, many food and catering industries raised prices on pork-containing products. Still, some rice dumpling businesses maintain their original prices to alleviate consumer pressure.
The rising costs of raising pigs have also affected other countries, making it harder for Taiwan to import meat.
From January to March 2023, Taiwan only imported around 18,000 tons of pork, 10,000 tons less than last year.
The global economy is suffering a severe blow amid the ongoing Russia-Ukraine war and the aftermath of the pandemic.
