March 30, 2012

Europe's pork meat price continues to increase

The price of meat in Europe is going up, according to Finnish Pellervo Economic Research PTT.

Supply has started to adapt not only to rising costs but also to consumption. Demand has continued to increase in spite of the recession, particularly in the case of pork.

Financial services provider Rabobank has forecast that the price of pork will continue to go up in the first half of 2012. The meat market is also impacted by the fall in the number of pigs in many countries. For example, in Finland, the number of pigs has gone down by about 8%.

According to Finnish food industry company Atria's CEO Juha Gröhn, only a fall in demand caused by the weakening of consumer purchasing power could stop the rising price trend. Until now, the trend has been strongest in the case of fattier meat, Gröhn says.