September 15, 2008

 

Russia's September beef demand shrinks
 
 

Russian beef demand has contracted in the first weeks of September, despite driving the global market for frozen manufacturing beef and lesser cuts all year.
 

South American and Australian exporters have reported little interest from Russian importers. Prices are also falling due to large supplies, following high volumes - 45,736 tonnes swt in August - imported from Brazil and the recent depreciation of the ruble against the US.

 

Russian demand was expected to improve in September, following the seasonally low beef consumption period in summer. Before the freezing of many northern ports, beef demand is now projected to remain flat for at least another month.

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