Pork prices to be driven up by high feed costs
Bacon among products that will cost more
CBC News
Posted: Sep 27, 2012 1:50 PM AT
Last Updated: Sep 27, 2012 7:01 PM AT
Bacon and other pork products will cost more as feed costs increase. (cbc)
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Bringing home the bacon could be a little more expensive in the near future.
Drought conditions in other parts of Canada and in the United States have resulted in a lack of corn and the cost of feed for pork producers is being driven up.
"There definitely will be less pork on the market in the coming year and the prices for pork will be increasing," said Hans Kristensen, chair of N.B. Pork.
Kristensen says it's tough to predict how much more expensive bacon and other pork products will be, but he says it will be significant.
"We're going to see increases in market prices of retail pork products, as well as other types, in order to sustain production," said Kristensen. "We're certainly going to see a 10-20 per cent rise."
Kristensen says the overall price of grain is forcing pork producers in New Brunswick to be unprofitable at this time. He says there are only 15 to 20 pork producers in the province right now, compared to 150 producers 20 years ago.
"It will put more farmers out of business because right now our cost of production is higher than our re-sale value," said Kristensen. "Like any business, when you're not making money, you're forced to close your doors."
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