Ministry intervenes to halt pork price crash
The Agriculture Ministry has confirmed action to combat a drastic drop in pork prices over the past year due to illegal imports of live pigs from neighbouring countries. The price of pork averaged about $2 per kg last year. That has now dropped to $1.25 per kg, but the base cost to farmers is $1.88 per kg. According to the ministry, imports of live pigs over the last couple of months have increased competition in the market and supply is outstripping the number of buyers. As a result, many farmers have reduced the number of pigs they are raising to avoid losses.