The problem is that you set the wrong configuration. The correct setting is
SET output.compression.codec org.apache.hadoop.io.compress.SnappyCodec;
mapred.map.output.compression.codec
is used to set the compress format of the intermediate files which are output by mappers.
You can read the codes here to get more information: http://www.grepcode.com/file/repo1.maven.org/maven2/org.apache.pig/pig/0.12.0/org/apache/pig/builtin/PigStorage.java?av=h#440