Private storage aid for pigmeat opened to stabilise the EU market
EU Agricultural commissioner Phil Hogan announced on Monday that new rules regarding the opening of private storage aid in the pigmeat sector are now in force, writes Shane Murphy.
EU Commissioner for agriculture and rural affairs Phil Hogan.
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Since the Russian ban on imports from February 2014, the EU pigmeat market has been in a constant struggle. The new measure provides EU funding to help cover the costs of storing certain pigmeat products for periods of three to five months.
Announced originally last September as part of the €500 million support package for farmers, the rule is now in force and will also include lard, which was not previously covered by private storage aid.
Commissioner Hogan said: “I am aware that the pigmeat sector is facing difficulties and prices have been in decline since September, and so I hope this measure will help the market.”
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Member States will have to notify twice a week the quantities submitted into storage.
The average EU pigmeat price was 129c/kg at the end of 2015, down 6.9% on the previous year. In Ireland, the latest prices quoted by Bord Bia on 18 December were between 138 and 140c/kg.
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Since the Russian ban on imports from February 2014, the EU pigmeat market has been in a constant struggle. The new measure provides EU funding to help cover the costs of storing certain pigmeat products for periods of three to five months.
Announced originally last September as part of the €500 million support package for farmers, the rule is now in force and will also include lard, which was not previously covered by private storage aid.
Commissioner Hogan said: “I am aware that the pigmeat sector is facing difficulties and prices have been in decline since September, and so I hope this measure will help the market.”
Member States will have to notify twice a week the quantities submitted into storage.
The average EU pigmeat price was 129c/kg at the end of 2015, down 6.9% on the previous year. In Ireland, the latest prices quoted by Bord Bia on 18 December were between 138 and 140c/kg.
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