To curb pork prices, Taiwan Sugar Corporation will release an additional 3,000 hogs

The auction price of live hogs has continued to rise. The Council of Agriculture suspects that hoarding has not eased, and has coordinated with Taiwan Sugar Corporation, which has agreed to release an additional 3,000 hogs in March. The frozen food association is also willing to cut its purchases by 15%, releasing the hogs into the auction market to stabilize pork prices.

Across Taiwan, about 22,000 live hogs are sent to auction markets for slaughter and sale each day.

The Department of Animal Industry under the Council of Agriculture said the frozen food association buys 17% to 18% of Taiwan's total daily auction volume to make processed foods. After coordination, it has agreed to reduce its daily purchases by 15%, which is estimated to add 500 to 600 live hogs per day to auction market trading.

Second, the Department of Animal Industry said that, in addition to agreeing on February 26 to release 1,000 more live hogs weighing 115 kg each (the standard specification is 120 kg) to the market in March, Taiwan Sugar Corporation recently agreed to release another 2,000 live hogs of the 110 kg specification. In total, it will release 3,000 more live hogs to auction markets across the country in March.

The Department of Animal Industry reiterated that it hopes the increased releases can offset the effect of suspected hoarding by hog farmers and meat traders, which has caused unstable supply in auction markets and driven bids higher during auctions, so as to stabilize pork prices.