How COVID-19 is affecting the EU pork market
15th May 2020 / By Alistair Driver
While the UK pig price continues to hold strong, despite all the concerns around COVID-19, prices have been plummeting across Europe.
The SPP has remained remarkably stable in recent weeks, standing at 164.3p in the week ended May 9, its highest point so far this year and 21p up on a year ago. In fact, it has remained in the 162-164p/kg range all year.
Demand was reported as steady, although there is ample meat in cold storage, which may ultimately become challenging, according to AHDB.
In contrast, in the week ended May 3, the EU average reference price (excluding the UK) dropped by more than 6p to 149.71p/kg. This compares with a recent high of more than 172p/kg in March and means the EU guide price is now at its lowest level for more than a year.
NPA senior policy adviser Rebecca Veale joined a call with EU farming representative body, Copa, on Thursday afternoon, where representatives from various EU countries discussed the situation with their pork markets.
"What was very apparent was that the price in many member states has fallen rapidly over the last few weeks and continues to do so," Rebecca said.
“There is a lot of concern that this will continue as the outbreak continues to disrupt both domestic and export markets.”
Rebecca has compiled a comprehensive and very informative country-by-country analysis of the pork market, which members can view by clicking here.