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Pork prices rise by 50%

Live pigs have continued to grow in price in recent weeks, and as meat companies have been able to absorb only part of their cost increases so far, prices are expected to rise further, writes Világgazdaság.

In one year, the price of live pigs has risen by more than 50% in forint terms.

This is largely a reflection of EU market developments, as the European average price rose by more than 40% in euros, and the weakening of the forint also contributed to the rise, said Tamás Éder, president of the Hungarian Meat Industry Association.

This has a direct effect on Hungarian prices, as they are in most cases tied to European prices, and German prices in particular, and are settled in HUF, notes.