World meat industry news

In Russia, the price of chicken meat is at an average multi-year level, and an affordable alternative - pork - will keep it from rising. Denis Ternovsky, a leading researcher at the Center for Agricultural Policy at the Institute for Applied Economic Research (IPEI) of the Russian Academy of National Economy and Public Administration under the President of the Russian Federation, told about this.

“Meat prices have grown unevenly over the past year – with a general food inflation of 20%, prices for beef increased by 25%, chicken by 13.3%, pork by 9.3%,” he said. - Rising prices for the most affordable and common meat - chicken and pork - held back the income of the population with an increase in production. It can be expected that this situation will continue in the coming months, and further price increases for these types of meat will not go beyond the picture of general inflation. Despite the increase in nominal prices, pork is becoming more affordable - now the price of it, adjusted for inflation, is 10% lower than the average for the past five years. The price of chicken meat is at an average multi-year level, and an affordable alternative - pork - will keep it from rising. Beef is now 6% more expensive than the average for the last 5 years (adjusted for inflation) and is the only type of meat for which we depend on supplies from the world market - they account for about 30% of consumption.”

Therefore, as Ternovsky explained, the price of beef will be largely determined by world prices and the availability of supply chains.