September 17, 2020

Germany's swine prices stabilise despite import bans

VEZG, the German animal farmers association said swine prices have stabilised at EUR 1.27 / kg (~US$1.49; EUR 1 = US$1.18) despite several countries imposing a ban on pork imports from the country following the discovery of African swine fever (ASF), Reuters reported.

Before the confirmed ASF case, swine prices were at EUR 1.47 / kg (~US$1.73) slaughter weight. Prices dropped to EUR 1.27 / kg (US$1.27) after cases were confirmed but has remain unchanged since then.

China, Japan and South Korea have imposed a ban on German pork imports following the discovery of ASF in the carcass of a wild boar in east Germany, bordering Poland.

Germany's statistics office said pork exports to China more than doubled between January to June 2020.

VEZG said the ASF case and export bans to major pork markets have caused market uncertainty, but slaughterhouse swine market prices have stabilised after a major drop last week.

One trader said the focus is now on Germany to find alternative export markets, especially in the European Union where German pork exports are permitted as there is a regional agreement in place. Only swine from Brandenburg state, where the ASF case was found, aren't allowed to be exported to the EU.

-      Reuters