Coveney welcomes EU move to ease pigmeat pressure

A move by Brussels to ease pressure on the EU pigmeat market has been welcomed by Agriculture Minister Simon Coveney.

Pig prices have fallen on all European markets due to the effect of Russia import barriers and increased production in the EU.

As a result, the European Commission has moved to introduce private storage aid for pigmeat — a market measure that compensates part of the storage cost for a certain period. Agriculture Commissioner Phil Hogan said private storage aid is the most effective tool available to address the difficult market situation.