Meat processors predict pork prices could go up by 50% by the end of the year

By the end of the year the price of pork in Bulgaria could be by about 50% higher than in the beginning of 2019. This was predicted by the Association of Meat Processors in Bulgaria on August 5. For its part, the State Commission on Commodity Exchanges and Wholesale Markets said the rise in pork meat prices is speculative. At the same time, prices are falling on the global markets.

According to the Association of Meat Pprocessors, prices of pork have already gone up by almost 40% since the beginning of the year, not only in Bulgaria, but throughout Europe. And the situation with the African Swine Fever may lead to a new increase in the prices of pork meat.

Kiril Vatev from the Association of Meat Processors in Bulgaria says that the forecast of the Association is that by the end of the year pork meat prices are possible to rise by further 10-15%, which means that if at the moment a kilogramme of pork costs 7.50 BGN, by the end of the year the price could go up to 8.00 BGN or a liitle above 8.00 BGN

According to Kiril Vatev, however, the deficit is unlikely because there would be imports. Rather, the Bulgarian production will suffer great losses, he said.

However, the Head of the Commodity Exchanges and Wholesale Markets State Commission.Vladimir Ivanov, told BNT breakfast programme that the pork price increase in the country is speculative and that the prices at the global markets are dropping.

A BNT visit to Sofia markets showed that there was a slight decrease in the sales of pork by about 5% and that prices had slightly gone up.

Experts forecast that despite the African Swine Fever crisis, there will be pork on the market. Even if we lose our native production and rely on imports, there will be no dramatic price changes, since Bulgaria is part of a much larger, competitive international market.