UK markets open in 3 hours 31 minutes
  • NIKKEI 225

    26,619.53
    -534.30 (-1.97%)
     
  • HANG SENG

    17,940.49
    +7.22 (+0.04%)
     
  • CRUDE OIL

    78.47
    -0.27 (-0.34%)
     
  • GOLD FUTURES

    1,647.90
    -7.70 (-0.47%)
     
  • DOW

    29,590.41
    -486.29 (-1.62%)
     
  • BTC-GBP

    17,969.88
    -173.56 (-0.96%)
     
  • CMC Crypto 200

    434.81
    -9.73 (-2.19%)
     
  • ^IXIC

    10,867.93
    -198.87 (-1.80%)
     
  • ^FTAS

    3,848.68
    -76.23 (-1.94%)
     

Europe's biggest pork producer cuts jobs as supplies decline

·1-min read

COPENHAGEN (Reuters) - Europe's biggest pork producer, Danish Crown, said on Thursday it would cut 350 jobs at two factories in Denmark as a result of declining supplies from farmers hit by rising energy and feed prices.

The war in Ukraine has resulted in record high prices farmers pay for energy and feed for the pigs, Danish Crown said.

"Payments to the farmers have not kept up at the same pace, and therefore the supply of slaughter pigs to Danish Crown has fallen noticeably over the past months," the company said in a statement.

Over the last two years, Danish Crown has almost constantly had more pigs ready for slaughter than its factories could handle.

"Now the picture looks completely different," it said.

(Reporting by Jacob Gronholt-Pedersen; Editing by Kirsten Donovan)