*********************************************
In response to media enquiries on public's concern over the rising price of fresh beef, a spokesman for the Food and Health Bureau today (December 16) said that the Government would conduct a market survey to get a better understanding of the factors contributing to the price surge, including the role of the live cattle wholesale market.
In view of the surge of fresh beef price, the Secretary for Food and Health recently met with representatives of the trade and other stakeholders to learn more about the operation of the live cattle market and the trade's concerns. They also exchanged views on feasible ways to stabilise the supply and price of live cattle.
According to information available, the price surge of fresh beef was mainly due to the tight supply and upsurge in the demand of live cattle in the Mainland. In the past year, it was noted that fresh beef price in the Mainland and Hong Kong both registered considerable increase. While the rates of increase in the wholesale price of live cattle in both places were comparable, the retail price of fresh beef in the Mainland showed a more remarkable increase than that in Hong Kong.
In view of the suggestion by some quarters for opening up the live cattle wholesale market and to facilitate the Government to better understand the market situation, the Government will conduct a market survey to compare the price, quality and costs of fresh beef in Hong Kong and nearby Mainland cities. The findings will also provide more objective data which would facilitate the Government's consideration on the way forward with the live cattle market.
The spokesman stressed that the government attaches high importance to the issue and it has been the Government's policy to maintain a stable and adequate supply of foodstuffs while ensuring the food safety.
Ends/Sunday, December 16, 2012
Issued at HKT 17:25
NNNN
