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last update:Aug 12, 2008
EU Export refunds for pig meat suspended
A proposal from the European Commission to set the
export refunds for fresh and frozen pig meat at zero has been discussed by the
Management Committee for the Common organisation of agricultural
markets.
Temporary measure
The export refunds (€ 31.1/100 kg for carcasses and
cuts and € 19.4/100 kg for bellies) were re-introduced in November 2007, as a
temporary measure to respond to the difficult market situation due to the
combination of over-supply of EU production and high feed costs.
Helped
by the increased refunds and the introduction of private storage aid, the EU pig
meat market started to recover since the beginning of this year: Pig carcass
prices are now on average about 30% higher than in November 2007, EU exports
increased considerably and feed costs are decreasing.
Forecast
Furthermore, EU
pig meat production is forecast to decrease significantly in the second half of
2008. Given all those elements, the Commission decided to set the refunds for
fresh and frozen carcasses, cuts and bellies back at zero, starting from today.
The Commission will continue to monitor the market situation closely and, if
appropriate, take further action.
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