EU slashes pork export subsidy

11 December 1998

EU slashes pork export subsidy

THE European Union (EU) has cut in half its export refunds on pork to 10 countries.

The move comes after the Czech Republic and Hungary said the EU had been flooding their markets with cheap meat.

The cut in the subsidy applies to EU pork exports to Poland, Lithuania, Latvia, Bulgaria, Estonia, Hungary, the Czech Republic, Slovakia, Romania and Slovenia.

The refund for carcasses and main cuts would fall to Ecu20/100kg from Ecu40. The refund for pork bellies would drop to Ecu13/100kg, from Ecu25.

• Financial Times 11/12/98 page 6 (News Digest)