February 13, 2015

 

Russia's pork imports decline 40% in 2014
 

 

Due to trade sanctions imposed against each other by Russia and the Western bloc, the Federations' pork imports fell 40% in 2014, as a result of which prices have skyrocketed.

 

According to recent figures, 329,800 tonnes of pork were received by Russia during the period January 2014 to November 2014. The volume declined by 200,000 tonnes compared to the same period in 2013 which totalled 542,800 tonnes.

 

In addition, concerns over African Swine Fever (ASF) also played a part in the slumping volumes; shipments thus fell to 19,000 tonnes in 2014, compared to 332,000 tonnes in the first 11 months of 2013.

 

With the pork trade effectively cut off from the US, EU and Canada, Russia sought imports from Brazil as well as other friendlier nations including Chile, Serbia, China, India and South Korea.

 

The current state of global affairs, particularly due to the Ukrainian territorial crisis in Crimea, had helped Brazil to raise exports to Russia at 20,000 tonnes in November last year.

 

Russia's tightening pork supply means that pork prices had risen by over a third on average for January to November 2014.

 

In addition, the decimating effects of sanctions continued to weaken its currency; prices by the end of November 2014 had shot up 80%, rouble-wise, compared to the same period in 2013.