May 13, 2010
 
Pork prices in Australia drop due to oversupply of pigs
 
 
An oversupply of pigs in Australia is causing pork prices to plummet as pork imports have reached a saturation point.
 
More than 2,600 tonnes of pork are imported each week to Australia from countries like Denmark and Canada. Pork prices are more than AUD0.50 cheaper (US$0.45) per kg live weight, compared to last year in 2009.
 

Andrew Spencer, from Australian Pork Limited, said that for the industry to improve and to curb the falling prices, consumers need to support domestic pork production by buying and consuming only Aussie pork. ''The autumn is traditionally a time of sinking pig prices. They're sinking a bit quicker than we'd like at the moment,'' he said. The fall in pig prices is due to the huge amount of supply coming into the market for production. "But it doesn't make it any less painful for the producers out there who have to suffer with the very low prices and in some cases a lot of difficulty in being able to sell their pigs at all,'' he said.

Video >

Follow Us

FacebookTwitterLinkedIn