EU stockpiles pork to support prices

PARIS/BRUSSELS (Reuters) — European agriculture commissioner Phil Hogan has pledged to take steps to support pork prices in an effort to help the industry as it reels from a Russian import ban.

Hogan said the “most effective tool available” was for the commission to allow pork to be stockpiled.

“I have been conscious of the difficulties faced by pig farmers,” he said.

“Producers have faced a particular difficulty resulting from the unjustified ban imposed by Russia.”

He said the sector needed support and proposed that “we should open private storage for pig meat.”

“This measure would remove a considerable volume of product from the market, which should have the effect of putting a floor under the market, stabilizing the financial situation of farmers and should enable the market to recover by stimulating the fragile recovery in prices,” he said.

French agriculture minister Stephane Le Foll welcomed the an-nouncement.

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