Hong Kong meat traders urge end to beef importer monopoly
Beef in Hong Kong was 50 per cent more expensive than in the mainland
An alliance of meat traders on Tuesday renewed calls for ending the monopoly enjoyed by the city’s sole fresh beef importer, which they said had contributed to rising prices of the meat.
Fresh Beef Traders Alliance convenor Hui Wai-kin told local radio the retail price of fresh beef was HK$100 per catty (604 grams) in late April — double the HK$50 per catty in the same month last year.
Hui said the increases had driven away an estimated 40 per cent of their customers, who now opted for frozen beef, and caused the closing of a number of meat vendors.
Hong Kong imports live cattle from the mainland through its sole distributer Ng Fung Hong. Since 2012, the company has increased its wholesale prices to retailers six times.
Hui also said a recent survey conducted by the alliance found that beef in Hong Kong was about 50 per cent more expensive than in the mainland.
He urged the government to open up the beef market to stabilise beef prices.
Late last year, the government began a study to find out why beef prices kept rising. The results were expected later this year.
