August 13, 2008


Russia's Cherkizovo posts H1 sales growth at all units



Russian meat producer OAO Cherkizovo Tuesday (August 12) said sales across its three divisions rose in the first six months of the year.


The London-listed firm said in a statement that poultry sales were up 11 percent to 88,350 tonnes, although selling prices were up by a lower-than-expected 11 percent to $2.61 a kilogram, excluding value-added tax, due to cheap imports from the US and Brazil.


Cherkizovo said it saw price growth in July and "remains confident" that poultry prices will grow in the second half of 2008.


Elsewhere, pork sales almost doubled to 20,000 tonnes as new capacity was brought on line. Prices rose 22 percent at $2.52 a kilo.


Sales of processed meat products edged up 2 percent to 71,800 tonnes, with prices up 23 percent to $3.97 a kilo on higher input costs.

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