Irish pig farmers have lost £45 million over the 12-month period from August last year, the Irish Farmers' Association president, Mr Tom Parlon, said yesterday.
He said the average price received by pig farmers over the 12 months was 78.3p per kg but the break-even cost, including financial charges, was 95p per kg.
"This represents an average loss of 16.7p per kg or almost £12 on every pig sold. Producers made a total loss of £45 million over the past 12 months," he said.
Mr Parlon, who runs an intensive pig production unit on his Co Offaly farm, said no Irish pig producer had made money in the past year and the average loss was £75,000. He said the sector badly needs to recover from this position but it could take a long time as the current price of 87p per kg was 8p per kg or £5.60p below break-even.
He called on processors, feed compounders and financial institutions to pull together to assist recovery of the sector which he said could be achieved.
"An immediate pig price increase of 4p per kg is essential from the pig processors," he said.
Interest rates on borrowings must also be pared to the absolute minimum to facilitate recovery of an industry which has a farm-gate value of £230 million, he added.
Mr Parlon said official information on the economy of European pig production published recently showed that Irish farmers were harder hit than any of their colleagues in Denmark, Germany, France, Holland or the UK.