54% increase in meat prices in Denmark
Danish pork producers may enjoy the role of the suppliers of meat in the Chinese market but the consumer in the domestic market is actually carrying the burden of the ASF crisis in Asia. Meat prices in Denmark, especially for products containing pork, have increased by 54% in 12 months and that may have drastic consequences for the Danish consumption of pork, according to Lars Aarup, director of sales analysis for the Danish retail business Coop.
"I can’t remember a time where we had a price increase at such a rapid pace before. That means the customers will eat more chicken than pork until the prices go down," Aarup declared for the local newspaper BT. According to the source, pig prices at the farm gate have increased by 60% since February 2019, which means that the costs have been passed almost entirely to the consumer.
In February 2019, 500 grams of combined pork and calf meat cost in Denmark around DKK23,95 ($3.53). In October 2019 the same product cost DKK29,95 ($ 4.41) – and in February 2020, it costs DKK36,95 ($ 5.44).
A program to help the farmers expand their breeding capacities has been launched by Danish Crown and may increase the country's pig output by 1.2 million head. however, analysts are foreseeing another spike in pork prices this year as the Chinese pig inventory is expected to decline further. "The swine fever hasn’t passed, so nothing indicates there’s going to be a price reduction. I think the price increases will continue,", commented Henning Otte Hansen, senior consultant at the University of Copenhagen.
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