July 27, 2009
Russia beef imports increase in June on currency rebound
Russia's beef imports in June is the highest level so far in 2009, as the rouble regained value against the US dollar and trade slowly re-established.
Russia imported 34,137 tonnes of beef from Brazil in June, up 59 percent on May but down six percent on-year.
Beef imports from Argentina reached 12,546 tonnes, nearly 600-percent higher from June 2008 when exports were subdued by the agricultural strikes.
But trading to Russia has decreased in recent weeks, as demand declined as a result of the volatility of the rouble, which has fallen strongly against the US dollar. Russia is also currently in a holiday season, a time when processed meat consumption tends to decline.
Russian demand is expected to increase in August, as consumers return from holidays and importers increase orders before trade disruptions return in November as ports freeze.
