6
Wednesday, June 20, 1973
Turning to the recent price increases for vegetables and fish, Mr.
Haddon-Cave pointed out that these, to a large extent, simply reflected the
seasonal pattern adverse weather conditions affecting supplies.
He emphasised that so far there had been no developments to suggest
any long-term changes in the supply position.
In the case of vegetables, he said, there could be no doubt that
the rather large price increases for the current month had been due to
inclement weather and extensive flooding in Kwangtung Province, which had
delayed imports from China. At the same time, hot and humid conditions in
Hong Kong had hastened the deterioration of cut vegetables.
Festival.
A further factor influencing prices this month was the Dragon Boat
Mr. Haddon-Cave said that despite this he expected some increase in
the volume of vegetables coming onto the market during the remainder of the
month and a corresponding reduction in prices.
Adverse weather conditions and the Dragon Boat Festival were also the
principal factors accounting for the rapid increase in fish prices this month.
However, he had already been informed that supplies were now increasing
and retail prices falling as was the case with vegetables.
As to the "so-called heavy purchases" of local fish by Japanese
interests, this actually accounted for only an insignificant proportion of
total landings and he felt that it did not have any noticeable effect on the
local supply and price situation.
Mr. Haddon-Cave said that he has spoken at length on the subject not
only because he knew how sensitive the public is to price increases in essential
and rightly so but also because he felt that an objective analysis
of the facts could improve the situation by helping to dispel unfounded rumours.
foodstuffs
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