A decrease in exports was the main drag on Russia’s GDP growth in the second quarter of this year, as it deepened from -0.4% YoY in 1Q19 to -4.9% YoY in 2Q19, analysts comment after official data on the structure of Russia’s economy was published earlier this week. The drop in exports was a result of lower global demand for metals, Russia’s OPEC+ commitments and the temporary halt in oil exports via the Druzhba (Friendship) pipeline. Deterioration of net exports caused by external or temporary factors (not fiscal or monetary policies), knocked off 1.7 percentage points from the 2Q19 GDP growth rate,INGsaid. Rosstat previouslyestimatedRussia’s GDP. Read more...
Russian citizen spends an average of 558 rubles ($8.5) on a daily basis.The Romir research holding provides such data. The average weekly spendings of Russian citizens show the dynamics of the average purchase value made during the week. Sociologists calculated the average amount based on the. Read more...
Pig prices have fallen in Russia and currently stand at 94 Roubles per kg liveweight ($1.46). This is a reflection of the economy and peoples buying power reducing. Local reports are that meat sales rise following people receiving salaries. In a recent speech the Chairman of the Russian Pig Producers Association warned that many Russian pig farms with the highest costs risk bankruptcy. This is unusual news for Russia, which has seen high pig prices for years on the back of controlling imports and massive expansion of pig production, much of which was subsidised. Historically lowering pig prices have triggered government support. These days this is not. Read more...
Meat production in Russia is growing, and this trend will continue until 2024 - as well as an increase in meat exports. Russian meat producers are exploring new global markets. How will it affect the domestic market in Russia? According to Rosstat, in 2018, 10.6 million tons of meat were produced in Russia - the maximum volume in the foreseeable history of the country. According to the Ministry of Agriculture, the number of livestock since the beginning of this year has grown by 8%. According to official forecasts, livestock production will grow by another 1.8%by the beginning of 2020, and by 2024 the growth will reach 12%. The highest growth rate of meat production. Read more...
The KrasnodarMedia news agency shared its forecast for the dynamics of purchase and retail pork prices from a private investor, winner of the Kuban Leaders contest, Dmitry Garmatyuk. He believes that pork prices may rise significantly immediately after the New Year. The root cause of a possible increase in the cost of pork in the Krasnodar Territory, as well as in Russia in general, will be the problems in the countries of Southeast Asia associated with the epidemic of African swine fever. Pork deficit led to an unprecedented increase in demand for this type of meat in foreign markets. So far, we do not feel this, because supply contracts are concluded for. Read more...
Production of pigs (live weight) in agricultural enterprises of the Russian Federation in August amounted to 357.8 thousand tons, which is 5.5% more than in August last year, the Federal State Statistics Service (Rosstat) reports For 8 months of 2019, pig production increased by 5.3%. Pig sector remains the leader in terms of production growth in the meat market of the Russian Federation. Cattle production in August remained at the level of August last year - 78.9 thousand tons. Over 8 months, growth was 1.8%. In August, poultry farmers increased production by 1.5%, to 498.2 thousand tons. In January-August, indicators decreased by 0.2%. In. Read more...
The Eurasian Economic Commission (EEC) isfinalizingnegotiations to set up a free trade zone between the Eurasian Economic Union (EAEU) and Singapore, officials announced this month. The EAEU is a free trade area that includes Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan. The countries represent a market of some 183 million people and a combined GDP (PPP) of about $5 trillion. Veronika Nikishina, the EEC’s trade minister, explained that the free trade zone with Singapore will not only apply to goods but also to services and investment. “As a result, we will have a package of seven different agreements. We are set to sign the first of seven. Read more...
There has been a buzz in the pig industry for a while now because African Swine Fever has caused a shortage of pork and pigmeat in China, and this may be met by imports from abroad. Does that mean that all western pork producers will have a windfall this year and next? Pig market expert Dr John Strak puts everything in perspective. I finished my last piece in this column (late June 2019) by saying that, “In my view, it’s likely that European and North American pig prices will move in opposite directions for the remainder of the year.” Who are winners and losers in the pork trade? That is how things have turned out so far. But what’s the. Read more...
Cherkizovo Group, Russia’s largest meat producer, has launched a comprehensive revamp of its flagship brand, Cherkizovo. The changes impacting both the product appearance and ingredients are designed to emphasize the Company's focus on customers, make Cherkizovo products stand out on store shelves, and expand the Group's audience outreach. In September, Cherkizovo Group launched a revamp of its main brand representing over 300products in the sausage and chilled meat categories. “Our history dates back to 1974 when the Cherkizovsky Meat Processing Plant was commissioned and started manufacturing sausages under the Cherkizovo brand. Today, as we. Read more...
In August, mutton prices soared in Moscow. The rise in price is due to the shortage of its supply in the capital’s market related to boosting supplies to Iran, the NEWS.RU portal reports citing Rosstat. In August, mutton prices rose to peak values from the beginning of the year. In Moscow, one kilogram was sold on average at 537 rubles. On an annual basis, growth was 21.5%. In St. Petersburg, where the price of lamb in August rose to 511 rubles per kilogram, the price increased over the year by 26%. According to experts, the rise in price is caused by an acute shortage of mutton. Deliveries of this type of red meat from the southern regions declined due to. Read more...
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