If the socioeconomic situation is stable, meat prices in Russia will increase by 5-10 percent by the end of 2024. This forecast was given to socialbites.ca by Doctor of Economics, Professor of the Fundamental Department of Trade Policy at the Russian Economic University. GV Plekhanov Vyacheslav Cheglov.
According to him, the ruble exchange rate, the increase in feed costs and the increase in the cost of maintaining producers’ equipment, as well as expensive credit and logistics services, will also contribute to the increase in meat prices.
“The most risky product in terms of price increases is chicken meat, where a slight decrease in production quantities is expected. Then I would put pork – prices here may depend on export volumes. The fact that the price level of turkey meat is currently very high slows down sales, and as a result, there are situations where producers turn to chicken meat. As in beef,” the economist explained.
He does not expect a decline in Russian demand for meat and meat products. According to Cheglov, meat is an integral part of the Russian diet. The expert noted that currently prices have stabilized, and thanks to the promotional activities of retail chains and suppliers, Russians can buy meat below the industry average. He noted a decrease in meat production in Russia and expects this situation to continue until the summer, after which prices will begin to rise.
According to Rosstat, in March 2024, 1 kg of beef costs 536.74 rubles, chicken – 218.95 rubles, pork – 343.46 rubles, lamb – 678.61 rubles. Turkey prices vary between 390 rubles. Up to 450 rubs. for 1 kg.
Previously “socialbites.ca” warned It’s about the increase in cheese prices in the fall.