Pig prices in Russia hit new high record
Wholesale prices of live pigs in Russia have increased by more than 40% since the beginning of 2014, surpassing the industry record of RUB 100 (US$2.76) per kilogram, according to Cherkizovo, reported local media RBC.
Alexander Kostikov, Cherkizovo's Head of Communications and Investor Relations, noted that the rapid price increase began in March.
"A month ago, the company was selling live pigs for RUB 74 (US$2.04) a kilogram, including VAT, whereas last week the price had already increased to RUB109 (US$3.01)," he said.
According to Ekaterina Kumanina, director of External Relations for the Dixy retail chain, some processed meat suppliers have already proposed price increases of 7% or more.
The wholesale price of live pigs in Russia has increased by more than 40% since the beginning of 2014, surpassing the industry record of RUB100(US$2.76) per kilogram. The prices of live pigs going to processors and retailers started to increase too, although not as steeply.
On 29 January, Rosselkhozhadzor restricted supplies of live pigs of European pork and pork by-products due to an outbreak of African Swine Fever in Lithuania and Poland. Industry experts told that domestic market prices spiked immediately after this.
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