0
FEBEV, the Federation of Belgian Meat, and Fenavian, the federation of meat products manufacturers, are joining forces and have integrated their pork index. The combined index should be a better representation of the market evolution and thus contribute to greater transparency in the sector.
The pig chain has been under pressure for some time as a result of the various crises that have occurred in recent years. To increase the sector's resilience, FEBEV and Fenavian have decided to integrate the existing systems that reflect market fluctuations, the Meatindex and the Vindex.
In terms of transparency, the pork sector has already had to take more steps this year. Starting this year, FEBEV has also communicated the sales prices of cuts to the Department of Agriculture and Fisheries, which in turn feeds them back to the European Commission. These figures are then published on the department's website. This mandatory communication is part of a European regulation that aims for more transparency in the agri-food chain.
This communication of sales prices takes place via the Meatindex, FEBEV's data system. This data exchange with the government was not the only challenge for FEBEV. The integration with Vindex was also a long-running process that ultimately took two years to complete. Both platforms will continue to exist in their own right, but the processing itself is now done in a closed unit (black box) that automatically sends the processed data back to both platforms.
By bringing together the data from both platforms, both the price fluctuations from the purchase side (buyers in Belgium, such as retail and meat processing) and the production side (suppliers in Belgium, such as cutting plants) are taken into account.
The integrated pork index will be available every Tuesday after 2:00 p.m.
January 30, 2023/ Vilt/ Belgium.
https://vilt.be/nl
