German pork prices seen up 10%

This summer pork prices in Germany is expected to rise 10%, up to EUR1.46/kg compared with EUR1.32/kg recorded in April, predicts Tönnies Group, Germany's largest pork slaughterhouse company.

Currently, prices for pork in Germany and Denmark are slightly higher than in France and the Netherlands. The rise in prices of pork in Germany is usually observed in summer - during the barbecue season.

Earlier, the ever-growing slaughter figures for pigs reached a new top last year, with approximately 56 million pigs being slaughtered. The country processed 1.5 million hogs more than in 2008, which is a rise of 2.7%.

The quantity of pork produced reached a new high of 5.3 million tonnes. This was 158,000 tonnes or 3.1% more than in 2008.

Meanwhile, the group predicts that this year, its turnover will increase up to EUR4 billion (US$5.08 billion) compared to EUR3.9 billion (US$4.95 billion) in 2009. Additionally, over the next five years, the company plans to increase its turnover to around EUR5 billion (US$6.35 billion) per year, with planned expansion into the Russian and Chinese market.