The European Commission Thursday (August 7) said it will end export subsidies for pig farmers, because pork prices have recovered significantly and the cost of feed has fallen.

The subsidies were introduced in November 2007, to support pig farmers who were getting squeezed between the falling price of pork and the rising price of pig feed. The subsidies gave EUR31 for each 100 kilograms of carcasses and cuts and EUR19 for every 100 kilograms of pig bellies.

The subsidies will end starting Friday.

"The commission will continue to monitor the market situation closely and, if appropriate, take further action," the commission's statement said.