German Pig Prices Drop to Lowest Since 2011 After RussiaRudy Ruitenberg
Pig prices in Germany, the Netherlands and Denmark dropped to the lowest in more than three years as Russia’s ban on European Union pork imports crimped demand, according to German industry group ISN.
Hog prices in Germany, the EU’s biggest producer, fell 4.3 percent this week to 1.346 euros ($1.696) a kilogram (2.2 pounds), sliding for a fourth week to the lowest level since February 2011, according to data from Interessengemeinschaft der Schweinehalter Deutschlands e.V.
The Russian import ban, imposed earlier this year after the discovery of African swine fever in some EU countries, has pushed pig prices in northwest Europe to the lowest since 2011 concern about dioxin-tainted pigs and feed in Germany hurt shoppers’ confidence in the safety of pork.
“Exports to third countries continue to fall short of expectations due to Russia’s import ban on EU pork,” ISN said. “Given the strong price declines in recent weeks, demands in EU member countries for political support are increasing.”
The EU exported 969 million euros of pig meat to Russia last year, led by Germany with 240 million euros and Denmark with 199 million euros of pork shipments, data from the bloc show.
Germany is the EU’s biggest pig producer, ahead of Spain, Denmark, the Netherlands and France, according to EU data.
Danish pig prices fell 3.7 percent to 1.40 euros a kilogram, the lowest since February 2011, while in the Netherlands they slumped 4.4 percent to 1.234 euros a kilogram, the lowest since January that year.
Pork accounts for almost 50 percent of meat consumption in the EU. Average consumption of pork in the 28-nation bloc may rise to 31.3 kilograms a person this year from 31 kilograms in 2013, the EU predicts.
Pig prices in Spain fell 4.5 percent to 1.537 euros a kilogram, sliding for a 13th week to the lowest since February 2012. Prices in France dropped 3 percent and those in Belgium declined 4.7 percent.