Domestic feed prices are strongly influenced by global markets for feed cereals and soyabeans. These are currently trading at historically high prices due to tight global supplies. I recognise the impact that this is having on the UK agricultural industry including the pig sector. We continue to monitor the situation and are working closely with the pig sector on this issue and the other challenges they continue to face at the present time.
I recently met with representatives of the agricultural banking sector to discuss the current situation in the pig sector. The banks confirmed that they are working closely with impacted pig farmers during this exceptionally challenging period and remain keen to be supportive. They are encouraging any farmers, especially those who might normally be reluctant to speak to their bank, to contact them.