Farming News - EU Pig Prices: Russia announces resumption of pig imports

EU Pig Prices: Russia announces resumption of pig imports

 

The European mature pigs market was unsettled on Tuesday after rises almost across the board last week.

 

On Wednesday, having received a large increase a week prior, German producers took a price hit that "caused uncertainty among the market participants" according to ISN, Germany’s pig industry group. ISN described the reduction (of over 3 cents) as "surprising."

 

Austria, Belgium and the Netherlands followed the lead of Germany, also correcting their prices. The Danish quotation went down as well.

 

In contrast, prices stabilised on the level achieved last week in Spain, France and Ireland. ISN assured that "An inrush of tourists will cause the meat demand to boost over the next few weeks in the southern holiday destinations [whilst] summer temperatures will make the quantities on offer scarcer at the same time."

 

The British quotation broke the €2 mark once again, following a one cent decrease last week. It now stands at just over €2 (£1.59).

 

Meanwhile, following the EU's referral of Russia to the WTO over an ongoing import ban, Russian officials have announced that there are plans to allow pork imports from 14 EU member states. States that do not share borders with countries where African swine fever has been detected will be allowed to resume exports to Russia.