Taiwan’s pig farmers fear bankruptcy by October
Taiwan’s pig famers fear that half their numbers will be forced into bankruptcy in seven months, despite government assurances.
During an interpellation session at the Legislature a few days ago, Council of Agriculture Minister Chen Bao-ji vowed to revert pig prices to the basic level at NT$6,500 (€166/US$220) per kg.
The price-stabilizing measures announced by the COA may work in the future, but are incapable of raising prices now, Chang Wen-shan, chairman of the Pingtung County Pig Farmers Association board of directors said.
It takes the prices of pigs at least 14 months to rebound back to the normal level, he added, about 50-60% of the country’s pig farmers may go bankrupt.
Pingtung, with its 1.5 million pigs, is the country’s number-one pig farming county.
“The rest will likely suffer heavy financial losses,” he said.
COA minister Chen also immediately committed 9,000 slaughtered hogs to cold storage and ordered an end to above-quota raising by large pig farms.