Europe's biggest pork producer, Danish Crown, said on Thursday it would cut 350 jobs at two factories in Denmark as a result of declining supplies from farmers hit by rising energy and feed prices, reported Reuters.

The war in Ukraine has resulted in record high prices farmers pay for energy and feed for the pigs, Danish Crown said.

"Payments to the farmers have not kept up at the same pace, and therefore the supply of slaughter pigs to Danish Crown has fallen noticeably over the past months," the company said in a statement.

Over the last two years, Danish Crown has almost constantly had more pigs ready for slaughter than its factories could handle.

"Now the picture looks completely different," it said.