Several EU member states are clamoring for the reopening of the Private Storage Aid (PSA scheme) as pig prices in Europe have fallen slightly over the past few weeks, following a short period of stability.

Data from the European Commission showed that the latest average pig price for the week ended March 6 was €124.50 (US$138.31) per 100kg, lower than the pre-PSA level.

Noting that the stabilising effect of the PSA was short-lived, some member states want the scheme back, the AHDB Pork said. The scheme, which provides EU funding to help cover the costs of storing certain pigmeat products for periods of three to five months, was devised to ease pressure on the EU market, which is still struggling from the Russian ban on imports from February 2014.

The pork division of the UK agency Agriculture & Horticulture Development Board, EU producers remain under considerable financial pressure with prices returning to their lowest levels in 11 years.

However, it cited reports that demand is beginning to be stimulated in the run-up to Easter, notably in Germany, due to low prices. "With the German market being a major signpost for the EU price, there are hopes that this will stimulate the EU price in a positive direction", AHDB Pork said.

The total quantity of products put into storage, most of it for a period of five months, was 89,841 tonnes valued at around €27.6 million (US$30.038 million). It was higher than last year's 60,000 tonnes.