News last update:Feb 25, 2016

No cartel agreement on Russian pork market

Russia's Federal Antimonopoly Service said there were no grounds to probe into the growth of wholesale pork prices.

The request to check the prices came from the numerous consumers union seeing too rapid growth of prices over the recent months.

The Service's deputy director, Andrei Tsyganov, ruled out a possibility of a cartel agreement between the numerous players on the Russian pork market.

"The market is absolutely competitive, with an exception of just a few regions. Price growth was caused by decreased pork imports from Europe over the threat of an African Swine Fever outbreak."

According to the Russian State Statistics Agency, pork prices went up by 2.2% in the first week of May 2014 to RUB 230.77 (US$6.6) per kilo.

Meanwhile, the National Meat Association reported a growth of pork prices from RUB 114 (US$3.3 US dollars) per kilo in January 2014 to RUB 152 (US$4.4) per kilo in April 2014. Russia's pork imports in the first quarter of 2014 dropped 27% on the same period last year.

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