Aimed at easing pressure on the EU market, which is still struggling from the Russian ban on imports from February 2014, this measure provides EU funding to help cover the costs of storing certain pigmeat products for periods of 3 to 5 months. Announced by EU Agriculture Commissioner, Phil Hogan, in September last year as part of the €500 million support package for farmers, this measure will also include lard - not previously covered by Private Storage Aid - because of the large volumes previously exported to Russia.
Commissioner Phil Hogan stated today: "I am aware that the pigmeat sector is facing difficulties and prices have been in decline since September, and so I hope this measure will help the market." Aid for private storage is a market measure within the frame of the CMO Regulation 1308/2013 that compensates part of the storage cost for a certain period. Member States will notify twice a week the quantities submitted into storage.
Regular updates of the pigmeat markets are available online.
