Earlier this year, Big 4 grocers Tesco and Sainsbury’s unveiled £10 million and £2.8 million care packages to support pig farmers, while Waitrose invested £16 million.
The Co-op removed imported bacon from its stores five years ago to move to 100% British pork.
Co-op has invested the cash to boost its support for British pig farmers by introducing a new pricing model designed to help manage rising production costs.
Matt Hood, of Co-op Food, said: “Some of the support for the sector is too little but it’s not too late for supermarkets to do their bit to help more British farmers.
“Switching to UK produced pork is the strongest commitment retailers can give to UK farmers at a time when the sector is experiencing unprecedented spiralling costs. Pig farmers have been facing historically high feed costs even before Christmas, which has now been exacerbated by the conflict in Ukraine.
“As a result, many UK farmers are suffering significant losses, and some tragically have been forced to close their farms. Co-op is a longstanding and leading supporter of British farming and our new pricing model will see us go even further.
“We know that this is an incredibly challenging time for UK pig farmers, and that we have an important part to play in supporting the industry. We will continue to do what we can to help all of our farming communities as part of our wider vision of working together to create a fairer world for all.”
Rob Mutimer, National Pig Association chairman, said: “The Co-op has long been a loyal supporter of British pig producers and we very much welcome this support, which will help its pork suppliers cover the record costs of production they currently face. Most of the big retailers have now acted in some way to inject more money into the supply chain.
“But while the price increases are very welcome, with wheat having reached £350 per tonne this week, they are still not matching soaring input costs. The reality is that our beleaguered pig producers remain under huge pressure and, in many cases, are battling just to survive from week to week.