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Pigmeat profitability recovers
17 Dec 2004
The pigmeat industry suffered a drop in profitability and market share between mid 2002 and late 2003, due to lower pig prices in rival markets, higher feed prices and the stronger Australian dollar, an inquiry into the industry by the Productivity Commission has found. But the Productivity Commission said there was no case for industry assistance or trade barriers.
Profitability has improved since the slump a year ago, while the pigmeat industry was profitable between 2000 and 2002. The commission report found that pigmeat production has increased over recent years while the number of pig farms has declined substantially. Over the past six years, pigmeat imports increased fivefold from $40 million to $219 million, while exports increased fourfold from $56 million to $195 million.
The Australian, 17/12/04
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