Poor Prospects for EU Pork Exports07 February 2014
GLOBAL - Rabobank’s outlook for the first quarter of 2014 on the EU pork market is far from positive, following the closure of Russia’s borders to EU pork last week due to the discovery of African swine fever in two wild boars in Lithuania.
Russia is an important import market, accounting for 25 per cent of EU pork exports in 2013 alone.
The majority of exported products are at the lower-valued end, which are important for the total carcass valuation.
While the impact of the ban remains to be seen, and the length as yet undetermined, pork prices have already seen a drop.
The start of the Winter Olympics may see the Russian authorities reopen the border to EU pork, but this remains uncertain.
Globally, the impact on export markets will be limited as the US and Brazil are already prohibited from exporting to Russia.TheMeatSite News Desk