Butchers Raise Beef Stakes With Boycott
HONG KONG - Hong Kong will be without fresh beef for at least three days following a decision by traders to boycott the sole supplier of cattle from the mainland, Ng Fung Hong.
6 August 2007
1 minute read
The three-day boycott began yesterday and traders said the action could be stepped up if Ng Fung Hong does not solve the problems of rising costs and a supply shortage.
Staff at Sheung Shui abattoir said there was no supply of live cattle yesterday.
Kowloon Beef and Mutton Merchant's Association president Yip Siu-kei said the supply had dropped drastically following a hike in the retail price of fresh beef on July 21.
Because of the fall in supply, traders had to fall back on their reserve stock, which is now running out.
While the boycott is collectively costing traders around HK$600,000 a day, Yip said they could extend the action if Ng Fung Hong does not give them a commitment to resume normal supply and steady prices.
"We still have to pay our staff during the suspension of sales, which means a loss of between HK$1,000 and HK$10,000, depending on the size of each stall," Yip said.
Source: The Standard
