Sheep Processor Blames European Crisis for Low Export Prices
September 14, 2012
One of Australia's largest sheep meat processors said the ongoing financial crisis in the European Union (EU) is making trade very difficult.
Western Australian Meat Marketing Cooperative Limited (WAMMCO), owned by 2,500 shareholders, has two export-focused abattoirs and employs a total of 600 staff.
Group chief executive officer, Coll MacRury, said export prices for mutton and heavy lamb have nearly halved in 12 months, from $8 to $4.50 per kilo.
"Very challenging. We've seen the EU deteriorate further. Prices are as low as they've been for many years," he said.
"The high dollar is hurting the Australian exporter severely and that has repercussions right back to the farm gate."
Reprinted from ABC Online, AU