During the first eight months of 2015 Russia has increased the volume of pork production in live weight by 8.4%, a report of the country’s Agricultural Ministry states.
Slaughtered pigs hang at a meat processing plant in Veliky Novgorod. [Photo: ANP]
The food embargo and import-substitution policy remain among the main factors which are contributed to such strong growth officials explained.
Live weight pork figures
During this period the country produced 1.974 million tonnes of pork in live weight which is 153,600 tonnes more than over the same period last year, the report states.
According to the data of the Ministry the major growth in the volume of pork production has been achieved in Kursk Oblast - 38,400 tonnes compared to the same period last year, Belgorod Oblast -0 24,400 tonnes, Pskov Oblast – 17,900 tonnes, Tver Oblast – 15,200 tonnes, Novosibirsk Oblast – 6,800 tonnes and Krasnodar Krai – 7,000 tonnes.
Devaluation of the rouble
In addition, there is an important issue with prices. According to official government statistics as of September 1, the average producer prices for live pigs in the country amounted to RUB 105.5 (US$ 1.6).
The Ministry indicated the rise of prices during the corresponding period of only 1.2%. However, market participants say that the price really jumped by nearly 25% in rouble equivalent, and seriously fell in hard currency due to the devaluation of the Russian rouble.