October 30, 2008

 

Denmark's pork exports affected by global financial crisis

 
 

Pork exporting countries are preparing for a significant slide in values as a result of the global financial crisis, according to reports in the Danish media.

 

Torben Poulsen, chairman of Danish Pig Producers, fears the evolving crisis will force more Danish pig producers out of business.

 

Producers have been able to secure overdrafts against the rising value of their land but Danish banks are reported to be refusing extended credit to all farm businesses, even those with solid equity.

 

Denmark exports around 90 percent of its pork production. It is feared the value of exports will fall over £220 million (US$364 million) for the remainder of this year and 2009.