Russian domestic market pork prices continue to decline steadily. stated the head of Russia's National Union of Swine Breeders Yuri Kovalev.
I expect that production growth will continue by 4–5% per year in the next three to four years. This increases competition at the market creating the prerequisites for price decline, reports RIA Novosti news agency citing the expert.
According to Yuri Kovalev, wholesale prices drop will affect retail in three to four months. Meanwhile, the effect will be observed only in the form of store promotions and seasonal offers.
The pork production volume in Russia during the first half of the year grew by 4.1% and amounted to 2.33 million tons, compared to the same period last year according to the data provided by the swine breeders' union. Yuri Kovalev also informed about an increase in pork meat exports, which has been observed for the past few years.