Russia to increase production of all main types of meat in 2024 - analysts

MOSCOW. Nov 14 (Interfax) - Russia plans to increase production of all main types of meat and set another record in meat farming in 2024, National Meat Association head Sergei Yushin said.

"There is a steady trend toward increasing production volumes of all types of meat. Thus, the increase should be around 2% for poultry by the end of the year. Pig farming maintains good growth rates. Growth should exceed 4%. Growth should be about 2%-3% for turkeys, and Russia should remain second in worldwide in terms of production of this type of meat. Growth in agricultural organizations has accelerated this year for beef, and it should be 5%-6%, perhaps even more, by the end of the year," Yushin told reporters.

Yushin said that Russia's fourth position worldwide in terms of meat production would be strengthened, thereby allowing to increase exports, which are also growing this year, among other matters.

"The main hopes for further development are associated with exports, with the expansion of both the geography of deliveries and the range of products that we currently supply to over 60 countries worldwide," he said.

Yushin said that record consumption of meat and meat products per person is expected at 83 kg this year compared to approximately 81 kg in 2023.

Yushin said that producer prices particularly on poultry are lower in the period than a year ago regarding the price situation.

"Thus, wholesale prices for poultry are about 20% lower. We see a slight decrease in consumer prices for poultry compared to what it was a year earlier. There is growth in pork, albeit very small, at about 3%-4%," he said.

Yuri Kovalev, general director at the Pig Breeders National Union, confirmed that production in the industry should rise 4% this year. Agricultural organizations increased 5.6% in the first nine months of the year.

"As a result, we are seeing a very stable situation in both the wholesale and retail segments. Prices for live pigs, half-carcasses, and piece meat for both retail and meat processing plants increased between 1% and 3% in 10 months, which is lower than inflation. Growth is around 4% in the consumer segment," Kovalev said.

Sergei Lakhtyukhov, general director at the National Poultry Farmers Union, drew attention to growth in poultry production accelerating in the third quarter and "was within the range of 5.7%-8.6%, and it was 2.6% in 9M. He confidently expects "a significant increase in production output" in the year.

Galina Bobyleva, general director at the Russian Poultry Union, notes a stable supply of eggs, with production rising 3.5% month-on-month in October, and the selling price is 14.5% lower than at the beginning of the year.