It came as lawmakers from various parties pressed for an investigation yesterday.

Financial Secretary John Tsang Chun-wah said recent pork price fluctuations were "unusual" and expressed concern that market conditions may be "unhealthy."

A Consumer Council spokesman said they will make suggestions on how to improve the situation after the study is complete.

Wholesale pork prices at the Sheung Shui slaughterhouse have eased to about HK$1,800 per 100 catties, sharply down from Tuesday's record high of HK$2,400.

Lawmakers from all political parties urged the government to look into the matter at a Legco motion debate on the current wave of inflation.

"The Fresh Meat Alliance has declared that [pork] supplies are low, leading to public worries regarding pork prices... The government should seriously investigate the matter," said Democratic Alliance for the Betterment and Progress of Hong Kong lawmaker Chan Kam-lam.

Tommy Cheung Yu-yan from the Liberal Party said the government should investigate whether anyone was controlling prices while Democratic Party legislator Fred Li Wah-ming criticized the government for not opening up the fresh pork market, as the slaughterhouse is still monopolized by supplier Ng Fung Hong.

Legislator Ronny Tong Ka-wah of the Civic Party, suggested that more Hong Kong pork traders and suppliers be allowed into the mainland to directly source fresh pork from registered farms.

Secretary for Food and Health York Chow Yat-ngok said the government will closely monitor whether illegal activities and unhealthy price adjustments were involved.

FMA spokesman Jackie Ling Wai- yip denied it was intentionally raising prices, saying the increases were due to the short supply and called on the government to raise pork supply quotas.

Meanwhile, beef imports into Hong Kong were suspended yesterday as snowfalls closed highways in the mainland, Ng Fung Hong said. Imports will resume when the weather and traffic conditions improve.