October 24, 2008
Global credit crunch curbs Russian meat consumption
The global financial crisis is likely to lead to a 10 percent fall in Russian meat consumption by the end of 2008, compared to the first half of the year.
Impacts of the global economic crisis are settling in Russia, with purchasing power of working-class Russians declined, fewer expensive products on the market and rising demand for cheaper meat products.
Consumption of beef, the most expensive meat in the Russian market, is expected to experience the largest decline, while consumption of poultry is likely to increase.
A shift in meat sales channels is also expected as consumers try to cut costs by purchasing product direct from wholesalers or markets instead of the supermarkets.