The Federal Antimonopoly Service (FAS) of Russia will check major meat producers because of the rise in prices for pork and chicken.
The inspection became known on August 10. The service raised the issue of chicken and beef prices. The FAS applied to Cherkizovo Group, which has a dominant position in this market, and to two other major Russian agricultural holdings. The companies must provide information on production costs and wholesale prices, as well as explain why they are raising prices. Regulatory measures will be taken depending on the answers.
Last week, live hogs and prime cuts at wholesale rose in price to an 8-year record. Such data from the price indices of the analytical agency AD Libitum and price monitoring from 2015 to 2022.
Retail chains confirm that purchase prices have been increasing over the past three weeks. One of the federal retailers estimates - by about 20%. But the price on the shelf has increased by 5% so far.
The growth of prices for pork and broiler in Russia has not stopped yet, according to the data of weekly monitoring AD libitum. Based on the seasonality, the market should have already started to stabilize, but this is not happening yet: the demand for meat continues to exceed the supply.
At the end of August – beginning of September, meat prices in Russia may begin to decline, predicts Minister of Agriculture Dmitry Patrushev. The minister promises that the stabilization of prices will contribute to the growth of production. The minister does not observe stagnation of meat production in the country. According to his assessment, the country is currently experiencing a seasonal increase, "a slight rise in prices". There is no meat deficit in the country, Russia has achieved full self-sufficiency in meat, the Minister assured journalists. The indicators of the food security doctrine in this area have been achieved.
Due to the growth of the population's income, meat consumption is increasing in the country, Patrushev noted.
Source: Agrotrend
