World meat industry news

During the first half of the year, meat production in Russia increased significantly. This makes pork more affordable for consumers and opens up new opportunities for export.

The largest increase occurred in pork sector – up 10.9%, the Ministry of Agriculture said. This is due to the opening of new enterprises and the expansion of exports, according to the department. According to Rosstat, beef production in the first half of the year increased by 2.3%, poultry production - by 0.8%.

In 2017-2019, multibillion-dollar investments were made in the construction of pig farms. Now the enterprises are reaching full capacity, and this process will last for several more years, said Sergei Yushin, head of the executive committee of the National Meat Association. According to the results of the year, the growth of pork production will be about 7%, he estimates.

Despite inflation and rising production costs, prices for poultry and pork have been declining for several years, Yushin said. According to the expert's forecasts, the prices for poultry meat will remain stable, while the prices for pork will decrease further in the near future. This will make meat even more affordable compared to other products (such as fish), Yushin said. The growth of its own production will dictate a further decline in prices in the next two or three years, agrees the head of the Center for Industry Expertise of the Russian Agricultural Bank, Andrey Dalnov. According to his estimates, this year retail prices for pork may decline by 3-4%.