News

Turkey production could increase by 5% this year

Published Apr 17, 2024

Tridge summary

Turkey production in Russia is projected to grow by 5% in 2024, reaching 440 thousand tons, as reported by Anatoly Velmatov of the National Association of Turkey Producers. This increase is due to prior investments, maintaining Russia's position among the top three global turkey meat producers. The per capita consumption of turkey meat in Russia has risen by 2 kg in the last seven years, with an anticipated increase of 5 kg by 2030, fueled by higher incomes, its inclusion in children's diets, and its adherence to religious dietary standards. Exports of turkey meat are expected to grow by 15-20% this year. Despite these positive trends, the industry seeks further investment, especially in preferential loans totaling 7-8 billion rubles, to enhance self-sufficiency in hatching eggs, which has already improved to 55% in 2023 with aims to reach 70% by year-end.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Turkey production could increase by 5% this year. This forecast was voiced by the executive director of the National Association of Turkey Producers (NAPI), Anatoly Velmatov, during the last XVIII industry business conference “Agroinvestor: PRO livestock and feed.” He recalled that last year turkey production reached 422 thousand tons; by the end of 2024 it could reach 440 thousand tons. “This growth will be achieved through investments already made,” he explained. At the end of this year, Russia will remain in the top 3 global producers of turkey meat, NAPI expects. Last year our country was in second place, Velmatov recalled. The top 3 turkey meat producers in Russia account for more than 70% of the market. “At the same time, when last year there was high volatility in prices for chicken and pork, they remained stable for turkey - but not due to the fact that our demand decreased or production costs did not increase, but due to the fact that we We sell through retail chains ...
Source: AgroInvestor
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