Malta: pork price set to soar

Maltese Pig Breeders Co-operative KIM is warning that the price of local pork will increase, while farmers are struggling with historically high pig feeding costs, the Times of Malta reports.

Grain and cereal prices on an international level have been rising since 2007.

The current average price of pork carcasses sold by KIM is €2.07 per kg, up from €1.87 per kg last month.

“Should production costs continue to rise this year, as is currently the trend, we will have no choice but to increase the cost of local pork proportionally, in the hope that the consumer understands the situation and continues to buy the local product,” said KIM general manager Oliver Frendo.

KIM has unsuccessfully sought Government aid “desperately and repeatedly” over the last few months, in an effort to keep product prices stable without bankrupting farmers, said Mr Frendo.

KIM came to the assistance of famers when cereal prices increased by almost €40 euro per tonne in June and the price of pork could not be increased until August.

It paid out the difference for June and July, “but the sums of money and frequency of price hikes in recent months are such that the Coop cannot afford do this every time,” Mr Frendo warned.