Russian agricultural holding RusAgro increased revenue last year by more than half thanks to the rapid jump of pork prices, according to the company’s official report.
In 2014 the total sales revenue of RusAgro jumped by 57% year-on-year to RUB 65.68 billion (US$ 1.04 billion).
The largest contribution in this result was made by the sale of pork. Record ever prices on the Russian market and the launching of the new pig farm let RusArgo to increase revenue in this segment by 140% to RUB 17.81 billion (US$ 283 million).
As a result, the meat segment last year provided the record high share of 27% out of the total revenue of the company. The representatives of RusAgro estimated that the average price of pork in 2014 jumped by 49% to RUB 96,900 (US$ 1,541) per tonne, while sales in real increased by 60% compare to 2013 to RUB 167,800 (US$ 2,669) per tonne.
In real terms the growth in sales of pork of the company last year amounted to 15.2% year-on-year, to 731,000 tonnes.
“The main reason for the success of the company last year was the rise in prices due to the devaluation of the Russian rouble. Because of the fall of the exchange rate of the national currency in the second half of the year the rouble prices for pork started to grow just as imported production”, stated representative of RusAgro Sergei Tribunski.