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Pig Meat Export Refunds Suspended
EU - A proposal from the European Commission to set the export refunds for fresh and frozen pig meat at zero has been discussed by the Management Committee for the Common organisation of agricultural markets yesterday.The export refunds (€ 31.1/100kg for carcasses and cuts and € 19.4/100kg for bellies) were re-introduced in November 2007, as a temporary measure to respond to the difficult market situation due to the combination of over-supply of EU production and high feed costs.
Helped by the increased refunds and the introduction of private storage aid, the EU pig meat market started to recover since the beginning of this year: Pig carcass prices are now on average about 30% higher than in November 2007, EU exports increased considerably and feed costs are decreasing.
Furthermore, EU pig meat production is forecast to decrease significantly in the second half of 2008. Given all those elements, the Commission decided to set the refunds for fresh and frozen carcasses, cuts and bellies back at zero, starting from today.
The Commission will continue to monitor the market situation closely and, if appropriate, take further action.
ThePigSite News Desk
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