Pork production will continue to grow this year in Russia

Published 2023년 1월 8일

Tridge summary

The National Union of Pig Breeders in Russia predicts a 5% increase in pork production for 2023, which could lead to a further decrease in pork prices due to the continued stable environment for grain and meal prices from the previous year. This stability, coupled with a decline in production costs, allowed the pig industry to maintain profitability despite falling pork prices. The industry also saw an 8% increase in consumption in 2022, making pork one of the most affordable types of meat. Exports of pig products are expected to reach at least 200 thousand tons by the end of 2023.

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

Original content

In the coming year, the National Union of Pig Breeders (NSS) expects an increase in pork production by at least 5%. This will guarantee stagnation, and, possibly, a further decline in prices for this type of meat, Yury Kovalev, general director of the NSS, told Agroinvestor. “But we really hope that the price environment for grains and meals that developed last year will continue in 2023,” he adds. According to Kovalev, last year the main event for pig production was the decline in grain prices in the second half of the year — due to the huge harvest, reduced exports and a stable ruble, it fell by a third compared to the first half of 2022. “This stopped the growth in the cost of pork production, which was observed in the first half of 2022, and made it possible to maintain the profitability of the pig industry against the backdrop of a decrease in wholesale prices for pork,” the head of the union notes. According to him, it was the increase in production costs in the first half ...

Source: AgroInvestor