Is Eu pig market rising again?
EU pig prices made a small gain in the latest week ended 24 May, having been falling since early March, according to AHDB. The EU average price increased by just over €1 on the week, to stand at €159.42/100kg. Except for the previous week, this was still the lowest price since April 2019 and €15 lower than the equivalent week last year though.
The slight upturn comes as European market reports indicate an improvement in both national and international meat sales. Underlying Asian demand remains strong, and some EU catering outlets are now reopening. Nonetheless, much of the continent still reports difficulties with backlogs of pigs, and with ongoing uncertainty around coronavirus developments, the market remains finely balanced. Further price increases can’t be guaranteed soon, and will partly depend on how management of COVID-19 fares over the coming weeks.
Prices movements in the latest week were varied between the major producing states. The largest rise was in Poland (+€8.61) but prices in Germany also increased (+€2.79). The German price is particularly influential, and may support some other countries in the coming week. Elsewhere prices were still falling, particularly in Spain, which lost €3.55 over the week.
Spanish pig meat exports with ups and downs
In the first quarter of 2020, Spain volumes were up 14% (+79,000 tonnes) on a year earlier.
This was partly a reflection of higher production, which over the same period was up 4%, or 56,000 tonnes, compared with January-March 2019. In addition, despite reports of some difficulties, demand from the main export market, China, continued to be higher with volumes up 87% (+104,000 tonnes). Despite the coronavirus outbreak leading to congestion at Chinese ports, underlying import demand remains very strong as domestic production is still severely limited due to the African Swine Fever outbreak.
Conversely, exports to South Korea were 51% down (-12,000 tonnes), partly due to reduced demand as that country also tackles the coronavirus. This is only a small market for Spanish pig meat. France is a more important market for Spanish pork and these volumes also dropped by 10% (-7,000 tonnes). Consumer demand for pig meat in France was falling prior to any COVID-19-related disruption, and has been the long-term trend.
Outside the United States, global exports are expected to increase 2%. China's imports are foreca...
The entity founded in 2014 was born from the desires of the different sectors' links for a single...
It completed 770 thousand tons in the first quarter of the year, exceeding by 21.5% the volume en...
