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NZ Industry Hammered by Price Slump and Rising Costs

by 5m Editor
28 April 2008, at 8:09am

NEW ZEALAND - Pork may be bucking the trend of rising food prices - but it's at a cost to farmers who are losing around $50 for every pig sold.

The Pork Industry Board estimates about one in 10 New Zealand producers are considering leaving the industry because of rising costs and stagnant prices, says Radio NewZealand News.

It says farmers are losing $50 for every pig sold, mainly due to higher grain prices caused by land being used for biofuel instead of crops.

The board's chairman, Canterbury pig farmer Chris Trengrove, says until supply and demand balance there will not be much respite for producers, although prices should rise in the coming months.

View the Radio NewZealand News story by clicking here.

5m Editor