January 30, 2008

France's pork industry receives governmental aid
 

France's Ministry of Agriculture has granted an aid of EUR 10 million (US$14.8 million) to the pork production industry.
 

The pork industry has received EUR 16 million (US$23.6 million) to date, with EUR 6 million (US$8.8 million) for the reduction of taxes while the remaining EUR 10 million (US$14.8 million) will serve as interest subsidy.

The government had originally offered EUR 6 million (US$8.8 million), but the amount has been increased by EUR 4 million (US$5.9 million).

This move is in response to Inaporc, the French pig industry association, which has called for immediate measures to mitigate the serious situation among French pig producers as they incur losses of EUR 40 (US$59.1) per pig.

The ministry is targeting primarily young farmers and newcomers to the industry so as to strengthen French pork production's structure.