The closing of the pigmeat Private Storage Aid Scheme (PSA) took place following the relevant EU Commission decision taken on 27th January 2016. According to the decision the private storage scheme for pigmeat operated for three weeks and the decision of termination was taken because the planned volumes of products were reached.
Based on Agrotypos information, the total quantity of product put into the storage system, for a period of five months, was 89,841 tonnes with an estimated value of 27.6 million euros.
As the EU states the quantities put into storage this year are considerably higher compared to those included in last year’s program (+60 000 tonnes). The EU also notes that since the scheme was introduced (that is 4 January), the decline in pigmeat prices seen in the end of 2015 has been halted and there are indications of a modest price recovery in the first weeks of 2016.
In total, 18 EU Member States participated in the pigmeat private storage aid scheme from which 4 Member States storing three quarters of the meat that are: Germany 26,000 tonnes (29%), Spain 19,000 tonnes (22%), Denmark 12,000 tonnes (13%), Netherlands 11,000 tonnes (12%).