Supply of mainland meat comes under probe
Health chief launches study of ways to bring in competition for meat supplier
An investigation into the supply of meat from the mainland is under way in an attempt to break a monopoly on wholesale beef, with a result expected in three months, the health minister said yesterday.
"In a free market, where there is competition, when other factors remain unchanged, there should normally be a chance to push market prices down," Secretary for Food and Health Dr Ko Wing-man said.
"But we are concerned about whether this can be achieved, since the cattle industry on the mainland is struggling to stay afloat."
Ko said it was becoming harder to draw newcomers to the industry on the mainland, while land suitable for raising cattle was not easy to find - with the exception of the northern part of the country, which posed transport difficulties.
Ko's announcement comes after Ng Fung Hong, the sole mainland beef distributor, raised the retail price of beef to more than HK$100 per catty (600 grams) last month, the sixth price increase in 2012.