Russia's National Mercantile Exchange records all-time high volume of poultry and pork sales in July

MOSCOW. Aug 5 (Interfax) - The National Mercantile Exchange (NAMEX) recorded an all-time high volume of poultry and pork sales in July this year, the trading platform said.

Cherkizovo Group , which listed its products on the NAMEX at the end of May this year, sold 1,928 tonnes of broiler chickens and 1,445 tonnes of pork in July after sales of 1,540 tonnes and 136 tonnes, respectively, in June.

NAMEX also said that JSC Prioskolie sold 148 tonnes of broiler chickens in July.

"High trading activity demonstrates the need to implement exchange mechanisms on the Russian commodity market. Developing exchange trading and expanding the product line would allow forming transparent price indicators for Russian agricultural products going forward that could potentially become the basis for exchange derivatives, namely futures and options," the NAMEX said in a press release.

The National Mercantile Exchange was established in 2002 to organize the commodity market and is an authorized exchange of Russia's Agriculture Ministry. The NAMEX currently organizes exchange trades in agricultural products, meat products and processed products at commodity auctions, and also conducts spot trades in sugar and other goods, calculates indices of the grain market, sugar, oilseeds and other goods, and registers over-the-counter contracts with goods. Purchase and commodity interventions on the grain market are conducted on the exchange platform.