December 16, 2008
Nortura to postpone rise of Norway pork prices in 2009
Norway meat and poultry giant Nortura has decided to postpone the rise in the pork price in 2009, so it does not expect to pay the target price on average for the year.
In the agricultural agreement the target price for pork was set to rise by NOK0.85 to NOK27.75 per kilogramme from January 1, 2009.
Instead, the year will start with a price reduction, followed by a NOK0.70 increase on 25 January, to NOK 0.60 below the target price.
Nortura plans another rise in May, and hopes to reach the target price by end June In the mean time, Notura have to adapt to the lower sales from the economic downturn and surplus pork production.
US$1 = NOK6.87