Inside Pigs
German cold stores full of pork
Stocks of pork in Germany have risen sharply in recent months. Since mid-September, German pork has been banned from many markets outside Europe due to the outbreak of African swine fever.
Read this article?
Become a subscriber and get instant access
Choose the subscription that suits you
Last November, the stock of pork stored in German cold stores was no less than 52% higher than the same month last year, reports market research agency AMI. At that time, the stored volume of pork was about 110.000 tons. Since September, Germany has no longer been able to export to important markets such as China, Japan and South Korea, which is clearly reflected in the export figures outside Europe.
But even before then, according to AMI, stocks were increasing. This is due to declining consumption due to the corona crisis. Between January and November, the volume of pork stored was about 20% higher than the same period in 2019.
Purchase scheme
It is likely that pork stocks will increase further in the coming months. To get the pig market out of the doldrums, Germany wants to open a Private Storage Scheme for pork in January, Agriculture Minister Julia Klöckner announced at the end of last year. With such a storage measure, market parties (such as slaughterhouses) receive compensation to temporarily store pork to relieve the meat market.
In addition to very large meat stocks, the supply of fattening pigs has also been sky-high for months. The slaughter backlog is reportedly around 750.000 animals. It will probably take months before the German market has more air.