Russia paid “dramatically more” for imported pork in 2014

Russian pork import prices finished last year around 80% above the levels reached in 2013, as the country’s imposition of two import bans during the past 12 months placed increasing strain on supplies, according to BPEX.

“Imported pork prices (into Russia) increased by over a third on average for the January to November period last year,” said BPEX, quoting the first new figures to emerge since April concerning the Russian trade.

“However, as the successive restrictions began to impact on the market, prices rose steadily and by November the year on year increase was up to 80% in rouble terms, partly due to the devaluation of the Russian currency. This has inevitably driven pork prices much higher on the Russian consumer market, even with internal pig production reported to be increasing, with a 12% rise in slaughterings.”

In terms of trading volume, the new figures show that pork imports were down 40% last year, due to the restrictions affecting the EU, Canada and the US.  While Russia imported 542,800 tonnes of pork between January and November 2013, in fact, for the same period in 2014 this dropped to 329,800 tonnes.

As for 2015, BPEX commented: “Reports last week suggested that the Russian market was set to reopen to some pigmeat products from certain EU countries, including France, Italy and Denmark.

“However, while progress has been made in discussions, it appears that significant technical work will be required before shipments can resume. Even then, the political ban will remain in place until the summer, at least, and will prevent fresh and frozen pork and some other EU products from being sent to Russia.”

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