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EU to offer private storage aid for pigmeat

Xinhua, March 6, 2015 Adjust font size:

The European Commission formally adopted measures to provide aid for private storage measures for the EU pigmeat sector, according to a press release issued by the commission here on Friday.

Under this standard market support measure, the commission will pay for part of the costs of storing pigmeat for 3-5 months, and the measure will enter into force on March 9.

"Past experience has shown that this move to temporarily reduce supply on the EU market eases market pressure and thus tends to help prices pick up," said the commission.

The pigmeat sector had been under pressure since the Russian ban on pigmeat imports from the whole EU in February of last year linked to an outbreak of African swine fever in East Poland and the Baltic Republics, according to the commission. Endit