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Pigmeat Exports to Be Hit By Global Downturn

by 5m Editor
29 October 2008, at 8:05am

DENMARK - Pigmeat exporting countries are preparing for a significant downturn in values as a result of the global financial crisis, according to reports in the Danish media.

Torben Poulsen, chairman of Danish Pig Producers, fears the evolving crisis will force still more Danish pig producers out of business.

Until now, producers have been able to secure overdrafts against the rising value of their land but Danish banks are reported to be refusing extended credit to all farm businesses, even those with so-called 'solid equity'.

Denmark exports around 90 percent of its pigmeat production. It is feared the value of exports will fall over £220m for the remainder of this year and 2009.

5m Editor