The increase, which is the third in less than two months, prompted pork vendors to warn they will raise the retail price by up to HK$4 a catty.

Ng Fung Hong said yesterday it will raise the wholesale price to HK$1,300 per 100 catties to meet rising local demand.

The importer imposed an increase of 7 percent on May 30, when the price rose from HK$1,060 to HK$1,134 per 100 catties. Two weeks ago, wholesale prices soared again as a result of a 20 to 30 percent drop in supply.

The latest adjustment represents a total jump of about 20 percent in wholesale prices since May 30.

A butcher at a Sham Shui Po market said she expected the retail price of lean pork to rise by between HK$2 and HK$4 a catty to about HK$32 per catty.

She said the increase will be a further blow to the trade as consumers will consume less or be forced to switch to other types of meat or frozen pork.

Source: The Standard

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