Government Considers Buying Pork to Raise Price

13 July 2012, at 8:21am

BRAZIL - Brazilian Minister of Agriculture, Livestock and Supply, Mendes Ribeiro Filho, said that more measures may be adopted by the Federal Government to minimise economic effects on the pig industry.

The statement was made during a meeting with 50 representatives of the production chain, at the Ministry of Agriculture.

"It was necessary to trigger special lines of credit, bearing interest at 5.5 per cent per year. If we examine are negative interest rates that will allow the relief of the producer. However, if necessary, we can adopt new measures," said the minister.

Regarding the possibility of a minimum price, Mendes Ribeiro explained that the Government is considering the purchase of pork for a value that raise the market price.

"It would be a minimum price, but the purchase of swine by the state and institutional purposes. We are all seeking alternative ways. We arrange the purchase of the pig with prices that can help the producer and have this response from the Ministry of Finance on Tuesday 17 July."