Pork slaughter numbers drop
The pork sector recorded a 3.32% decline in the number of pigs slaughtered at local abattoirs from the August level of 3 686 to 3 567 in September.
According to the Meat Board of Namibia’s monthly Market Watch, this is 3.46% lower than last year when 3 696 pigs were slaughtered during September.
“Despite the current shortage of pork in the country due to the import ban on South African fresh meat, local production remains low, causing retailers and processors to source from overseas markets.”
It said the pork ceiling price has been fixed to N$51.03 per kilogram as a mitigation strategy to counter the negative effects of the dwindling Red Meat Abattoir Association (RMAA) pork price, the current benchmark price for Namibia’s pork ceiling price calculation.
The South African price currently stands at N$35.85/kg, increasing by 11.09% from the August level of N$32.27/kg.
“On average, prices are also 26.61% higher than a year ago due to improved demand for pork products.”
Demand shift
The Meat Board said the load-shedding reprieve as well as the increase in poultry prices have led to a shift and increase in consumer demand for pork.
It is expected that pork prices will increase slightly in the coming months, paired with the increase in red meat prices, particularly beef and poultry.
The Meat Board added that, seasonally, pork prices increase towards the festive season and this can also attribute to the expected increase.
“Significantly, the Namibian calculated pork price surpassed the current fixed pork ceiling price.”
The calculated price was 0.64% higher than the fixed price and is mainly driven by the increase in the South African RMAA producer price caused by an increase in demand for pork.
Meanwhile, ongoing pressures faced in Canada relating to a crumbling pork industry continue to weigh down producer prices. Prices in the United States have also experienced declines, specifically due to the increase in the number of pigs supplied to the market.
Prices are expected to improve next year around March, due to declines expected in the number of beef, chicken and hogs available.
European prices further experienced declines rolling over from previous months as they continue to experience an oversupply within markets and an ease in demand.
According to the Meat Board of Namibia’s monthly Market Watch, this is 3.46% lower than last year when 3 696 pigs were slaughtered during September.
“Despite the current shortage of pork in the country due to the import ban on South African fresh meat, local production remains low, causing retailers and processors to source from overseas markets.”
It said the pork ceiling price has been fixed to N$51.03 per kilogram as a mitigation strategy to counter the negative effects of the dwindling Red Meat Abattoir Association (RMAA) pork price, the current benchmark price for Namibia’s pork ceiling price calculation.
The South African price currently stands at N$35.85/kg, increasing by 11.09% from the August level of N$32.27/kg.
“On average, prices are also 26.61% higher than a year ago due to improved demand for pork products.”
Demand shift
The Meat Board said the load-shedding reprieve as well as the increase in poultry prices have led to a shift and increase in consumer demand for pork.
It is expected that pork prices will increase slightly in the coming months, paired with the increase in red meat prices, particularly beef and poultry.
The Meat Board added that, seasonally, pork prices increase towards the festive season and this can also attribute to the expected increase.
“Significantly, the Namibian calculated pork price surpassed the current fixed pork ceiling price.”
The calculated price was 0.64% higher than the fixed price and is mainly driven by the increase in the South African RMAA producer price caused by an increase in demand for pork.
Meanwhile, ongoing pressures faced in Canada relating to a crumbling pork industry continue to weigh down producer prices. Prices in the United States have also experienced declines, specifically due to the increase in the number of pigs supplied to the market.
Prices are expected to improve next year around March, due to declines expected in the number of beef, chicken and hogs available.
European prices further experienced declines rolling over from previous months as they continue to experience an oversupply within markets and an ease in demand.
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