Both Russian households and corporates showed signs of a modest recovery in activity in January,INGanalysts said in areport, noting however that a further forecast is clouded, as it is unclear if more generous budget policy expected in 2020 can offset the potential negative effect of the coronavirus epidemic. Russian retail trade growth accelerated from 1.9% year on year in December 2019 to 2.7% in January 2020, ING Think said, naming December’s above-expected income growth as a potential reason for such an outperformance. Real salaries growth amounted to 6.9% year on year in December with the most notable growth in construction, trade, transport, finance. Read more...
Neither the National Pig Producers Association or the National Meat Producers Association are involved in national advertising campaigns promoting pork consumption, says a foreign observer. While Russian pig production is growing, domestic consumption stays low and export markets remain closed due to the ASF situation in the country. Pig price is currently 82 Roubles ($1.34) per kg liveweight, with only Canada and the US reporting lower prices, observes Simon Grey, General Manager Russia CIS and Europe, Genesus. "The reason is the local supply and demand. Production in Russia continues to increase and demand in Russia is virtually static due to weak growth. Read more...
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