20 November 1998

Russia boosts pigs

RECOVERING pig prices received a further boost this week with the news that Brussels is raising the level of export refunds for EU pigmeat sales to Russia by 75%.

Shipments of carcass meat and fresh and frozen cuts now carry a subsidy of £488/t, (or 49p/kg), as the commission attempts to maintain commercial links with Russia.

In a separate move, Brussels market managers have also agreed to waive the requirement, under the existing private storage aid scheme, for all pigment to be exported outside the EU once it comes out of store. This has been a major deterrent to traders thinking of getting involved in PSA, and has limited its effectiveness in taking surpluses off the market.

In its first month, just 30,000t of pigmeat have gone into storage throughout the EU, with a mere 80t submitted in the UK. &#42