Substantial Price Increase Justified and Urgently Needed for Pig Farmers
IFA National Pig Committee Chairman, Roy Gallie said that “pig supply for slaughtering is extremely tight and there is massive competition among processors for supply. A substantial price increase is justified immediately to help offset continuing increases in cost of production”.
The Irish Pig Price is currently at €2.02/kg – €2.06/kg which remains below the average break-even figure of €2.20/kg. The European Commission data as of the 10th of August demonstrates that the US average price is at €2.74/kg. Irish exports of pigmeat to the United Stated are up 25% on last year according to Bord Bia.
Data from the European Commission shows that EU slaughtering’s are down -4.2% in the four month period from January to April 2022, while the tonnes of pork produced are down -5%.
Experts predict a substantial decrease in production in China with reports from China saying the breeding herd has decreased by 20% (-8 million sows).
Chinese pig price has almost doubled since March from €2.20/kg to €4.00/kg today (Prices on the 15th of July reached €4.32/kg).
“Farmers need to consider all options when selling pigs as competition is tight and price increases are more than justified” Roy Gallie said.
