Pig shortage triggered a rise in pork prices in Russia

Published 2020년 8월 20일

Tridge summary

Pork prices in the US have been falling due to a decrease in export sales, although they have still increased by 23.7% over the month. In Europe, prices have stabilized with only minor fluctuations. In China, prices have decreased slightly, but there are concerns about the meat market due to the spread of COVID-19 and flooding. In Russia, pork prices have increased due to a shortage of pigs, leading to a 32% increase in livestock and a 28% increase in half carcasses since the end of May 2020. The average prices for live pigs for slaughter have increased by an average of 3.5%, and for half carcasses by 3.0%. Russia's export of pork products has increased by 93% in the first half of 2020, with the main partners being Hong Kong, Ukraine, the Republic of Belarus, and Vietnam. From January 1, 2020, Russia has replaced the pork import quota with a 25% duty, resulting in a significant decrease in pork product imports.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the weekly report of the IAA IMIT, as of August 10, 2020, pork prices in the US continued to fall - over the week it fell by 9.7% to USD 0.82 per kilogram. This is due to a decrease in export sales. True, prices for American pork rose 23.7% over the month. In Europe, prices have stabilized, changes have occurred only against the background of currency fluctuations. In China this week the price has decreased slightly, but it is expected that the acceleration of the spread of COVID-19 and flooding in some regions of China may affect the country's meat market and provoke a further rise in the price of pork. In Russia, pork prices have increased markedly against the background of stable summer demand from the end consumer. As for world prices for live pigs, this week they showed a general increase. Livestock rose in price noticeably in Brazil, where there is a deficit against the background of a 2% decrease in production per month (+ 6.1% per week to USD 1.19 per ...

Source: Agroxxi