The price of pork will increase on average by 15-30% in April, mainly due to the increase of exports to Asian countries, the Romanian Meat Association (ARC) informed on Monday.
“In Q1 2017, as compared to the past two years, the average price for pork carcase was by 26% higher against 2016 and by 12% higher than in 2012,” an ARC release informs.
ARC says the price of pork bellies is up by 40%, whereas the price of ham is up by 25% in the past 12 months.
“According to data presented by the European Commission in March 2017, at the Economic Council of the Centre for the Meat Market, it is estimated that the increase in the price of pork will follow the run-up in H2 2017, followed by stagnation,” the document reads.
ARC says that among the causes that led to higher prices of pork in Europe is a significant increase in 2016 of pork exports to Asian countries, especially China, Japan and Hong Kong and the decrease of pig herds, a fall of -2.3% in pigs of 20-50 kg and by -1.1% in pigs between 50-80 kg.
Moreover, in January 2017, the exports increased by 20% against the same period in 2016, especially to China, followed by Hong Kong and South Korea.
Last week, ARC warned pork price might increase by about 20%.
“It is the highest price in the last five years on the pig meat stock market, due to the massive cuts last year. But on Thursday the German pig meat stock market registered an increase of 7 eurocents. Perhaps some people will migrate to the chicken meat. The chicken has no price changes. The beef has already registered some price changes upwards,” Radu Timiş, chairman Romanian Meat Association, said last week.