EU pig prices have started to increase again, rising by €4 (£3.20) per 100kg during March, to leave the EU/UK price gap at its smallest since September 2013, according to AHDB Pork.
The latest available average pig price, for week ended April 3, was €128.52 per 100kg (£102.40/100kg), following an improvement in prices recorded in the build up to the Easter holidays.
“Nevertheless, with prices still historically low, the EU has stated that it will investigate re-opening Private Storage Aid and look to establish a Meat Market Observatory,” said AHDB Pork. “These actions may help to further stabilise the EU price, if they come to fruition.
“However, it is also prudent to remember that some of the pigmeat stored during the PSA in January will soon be released onto the market, at a time when it is still under significant pressure.”
AHDB Pork also noted that the improvement in the EU pig price, coupled with the continued decline of the UK price and the weakening of sterling against the euro, has resulted in the UK premium now sitting at around 10p/kg.
“This is the lowest level recorded since September 2013 and could mean less demand for imported pork, helping to support the UK market,” it said.
