Russian pork exports to surpass 100,000 tonnes
Rusian pork prices have increased by 50% since the beginning of the year, reaching to 122.6 roubles ($1.64). Besides the depreciation of 12% for the Rouble in front of the US dollar, there is strong demand for pork both in the domestic market and abroad, in South East Asia, considers Simon Grey, General Manager Russia, CIS, and Europe, Genesus Inc. "Russia’s exports of pig meat are increasing, especially to South East Asia. Total quantity exported is expected to exceed 100 Thousand Tonnes this year. This is the production from about 40,000 sows or about 2% of the total sow herd. The increase is good news for producers, but with continued expansion in progress (well over another 100,000 sows currently under construction) more export and local consumption will be required to support the price.
Russia continues to hope for permission to export to China. Russia and China share a 4,209 land border. Geographically, Russia is ideally located to supply considerable amounts of pork to China. As the world’s number 1 wheat exporter, it has the resources to produce a lot more pork (and other animal protein’s). The major stumbling block is, of course, Russia is a country positive to ASF, which China will not accept," he said in the latest market report.
At the same time, the Russian government decided to limit the volume of pork exported and to stimulate domestic consumption. "Trade decisions today seem to be mostly political and devoid of a lot of logic and the economic rules of supply and demand. The current price increase is driven by local demand. The Covid-19 crisis has significantly reduced overseas travels for Russians. Russian holiday destinations are full and many are staying at home. The government also gave 20,000 Rouble ($266) for each child under 16. This has boosted local consumption and therefore the price," explains Mr. Grey.
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