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Russian processors deny rising meat prices 27 Jan 2010
Amid the ineffective negotiations to resume imports, Russian processors deny the sharp growth in meat prices.
According to independent industry analysts’ forecasts, during the first weeks of 2010, prices for meat products in the country grew by 15% and by early February they can reach 30%.
However, Musheg Mamikonyan, Chairman of the Meat Union of Russia, disagrees, "According to statistics data, in the fourth quarter, wholesale meat prices in Russia plummeted."
Mamikonyan argues that probably these analysts assume that prices will rise in the future. “There are seasonal fluctuations and it is possible that prices will rise. However in the past two years the growth in meat prices in Russia was significantly lower the country’s rate of inflation," he insisted.
He also added that the future situation in the Russian meat market will depend on the volume of imports and the level of consumer demand.
Currently the growth trend in consumer prices for meat products in Russia contradicts global trends. In contrast to Russia, in most countries, the crisis has already lead to a sharp decrease in inflation due to a massive drop in consumer demand.
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