March 26, 2007

Russian meat prices slump due to oversupply
 

Russia's Agriculture Minister, Alexei Gordeyev has asked President Vladimir Putin to urgently address problems related to large-scale meat imports which have depressed local meat prices particularly pork.

He noted that meat prices have fallen by 30 to 40 per cent as compared with 2006.

Rising meat imports have taken place at a time when domestic pork production has risen, with farmers finding the situation "... alarming, especially those who have taken loans to expand meat production", said Gordeyev.

Large-scale meat imports from North America and the European Union as well as rampant meat smuggling in the country has pushed down domestic meat prices.