November 1, 2010

Pilgrim's Pride poultry exports to Russia to resume in 2011

Russia is likely to continue accepting US poultry exports next year despite recent government comments that Russia may not need them, the head of Pilgrim's Pride Corp. (PPC) said Friday (Oct 29).

"I still expect there to be imports in 2011," Chief Executive Don Jackson said.

Last week, Prime Minister Vladimir Putin said that "in the next and subsequent years we will be virtually able to manage without imports."

Jackson noted those comments but said there have been conflicting reports about Russia's intentions. Russia had banned US exports from January 1 through most of the year, and shipments have resumed only in the past several weeks.

Russian officials have said they plan to be self-sufficient in poultry production this decade. "We're positioning ourselves for that possibility," Jackson said.

Pilgrim's Pride shares recently rose 7.4% to US$6.13.