World meat industry news

In 2024, pasta risks becoming the leader in price growth: it could rise in price by an average of 15%. The reason is the increase in the cost of raw materials and logistics. This was announced by Pyotr Shcherbachenko, associate professor at the Financial University under the Government of the Russian Federation.

The expert notes: manufacturers also predict an increase in prices for cereals and dairy products, confectionery, chocolate, coffee, and juices. This will happen due to unstable exchange rates, an increase in packaging prices by 11% and an increase in the cost of transportation services (by 40% per year).

“In my opinion, manufacturers will try to reduce the price of the product: for example, visually leaving the same packaging, but reducing the volume of the product - a package of 8 eggs instead of 10 and 0.8 liter bottles of milk instead of liters,” noted Petr Shcherbachenko.

As for meat, prices increased already in January: beef rose in price by 1.18%, and lamb by 2.5%. At the same time, chicken, on the contrary, became cheaper by 2.7%. Eggs also gradually began to become cheaper - by 1.86% per month.

“The opening of duty-free import of eggs will slightly reduce their cost, giving an increase in additional supply of goods. However, prices for eggs in some countries that are ready to supply them to us are higher than in Russia,” added Petr Shcherbachenko.

According to him, due to the increase in excise taxes, alcohol will also become more expensive. The excise tax on strong alcohol will increase by 30 rubles. — up to 643 rub. per liter of anhydrous ethyl alcohol. With the increase in excise taxes, the final prices of the product will also increase. Thus, until May 2024, alcoholic beverages will increase in price by 10-15%, and beer by 5%.

However, the expert emphasizes: there are products that are becoming cheaper. For example, in the first month of 2024, prices for vegetables decreased. Thus, potatoes fell in price by 4.8%, cabbage by 3.7%, carrots by 3.1%, cucumbers and tomatoes by 10%, onions by 2.8%, and beets by 2.1%.

“In general, the increase in prices in 2024 is associated with the financial difficulties of suppliers due to the extension of payment terms with partners, the transition to 100% prepayment for raw materials, ingredients, packaging, services, etc., the lack of working capital to ensure continuous production and a reduction in the cash register period gap among suppliers. Only by increasing food production is it possible to provide the population with an affordable and stable supply,” added Petr Shcherbachenko.