EU pigmeat consumption is expected to decrease by 1.6% in 2016 before stabilising in 2017, more or less in line with the trend over the last 10 years, according to the latest short-term outlook published by the European Commission.
Having risen by 1kg per capita in 2015, to reach an EU average of 32.5 kg, the current pigmeat consumption move back towards the 10-year level is seen as being due to “very favourable prospects for EU exports and higher prices”.
“Contrary to 2015, EU pigmeat prices in 2016 seem to be again following their seasonal price increase during the summer,” states the outlook. “After a flat start at the beginning of 2016, prices have been going up steadily since the end of April 2016, closely following price developments in the US and Canada.
“EU pigmeat prices went above the 2015 price level by mid-May, reaching 150 EUR/100kg (£124.5/100kg) in mid-June. This price increase is also due to the surge in exports to China, giving some relief to the EU market, and to the tighter balance between EU supply and demand.”
The outlook view, meanwhile, for EU pigmeat production this year is that output will stabilise at around 23.4 million tonnes, adding that this is “despite the positive feedback from export markets and a first glimpse of price recovery”.