World meat industry news

The largest poultry meat producer in Russia, GAP Resurs, informed leading federal retail chains of its readiness to immediately increase the volume of poultry meat supplies by 50%. This was said in a statement.

“A proposal to increase the volume of supplies of poultry products by 50% has been sent to a number of leading federal retail chains,” the statement says.

The company has agreed with retail chains that starting November 14, prices for broiler chicken carcasses will be reduced and fixed. In addition, cutting prices will be reduced by 7–12%. Supplies will be made under long-term contracts to stabilize the market situation.

The company noted that since the beginning of the year, it has doubled the volume of poultry meat supplies directly to retail chains. Now Resource supplies 32 thousand tons of its products to retail every month.

Earlier it was reported that the Ministry of Agriculture will encourage producers and retail chains to enter into long-term contracts for the supply of poultry products. This is necessary in order to stabilize retail prices. Prices have been rising since May of this year. The Ministry of Agriculture previously predicted that the situation would stabilize by the fall, but Rosstat still records price increases, albeit at a slower pace. In October, prices for poultry meat in Russia increased by another 2.53% compared to the previous month, and in a third of the regions - by 10%. In September, the growth was 2.86% throughout the country, and in almost half of the regions it reached 23.8%.

Poultry producers themselves say that prices in the wholesale segment have already dropped. Retail prices are also expected to adjust soon.