When the economy remains stable, meat prices in Russia could rise by about 5 to 10 percent by the end of 2024. This projection comes from a respected economist, a professor in the Fundamental Department of Trade Policy at the Russian Economic University, GV Plekhanov, Vyacheslav Cheglov. His assessment reflects a consensus among several industry specialists who monitor market dynamics and policy shifts that influence consumer goods pricing.
Cheglov notes that several factors will push prices upward. The ruble’s exchange rate, higher feed costs, increased expenses for keeping producers’ equipment in working order, and the rising cost of credit and logistics all contribute to a firmer price level for meat. Each of these elements tightens the margins for producers and distributors, and the effect ripples through to shoppers at the supermarket.
Regarding specific products, the economist identifies chicken meat as the most vulnerable to price increases. A slight reduction in production quantities is anticipated, which could translate into higher per-kilogram costs. Pork prices may also depend on export activity, influencing domestic availability and pricing. Turkey meat currently commands higher prices, which slows down sales and, as a result, leads some producers to pivot toward chicken meat. Beef follows a similar pattern in market responsiveness, with supply and demand fluctuations shaping the price trajectory.
Demand for meat and meat products in Russia is not expected to drop. Cheglov emphasizes that meat forms a staple in the Russian diet, making sustained demand likely even amid price volatility. He also observed that retail promotions and supplier discounts have kept current prices below the broader industry average. In his view, meat production in the country has been trending downward, a trend that is likely to persist into the summer before prices begin to edge upward again as seasonal factors and logistics costs shift.
Official statistics from Rosstat show the price spread across common meat categories in March 2024: beef at 536.74 rubles per kilogram, chicken at 218.95 rubles, pork at 343.46 rubles, lamb at 678.61 rubles, and turkey prices ranging roughly from 390 to 450 rubles per kilogram. These benchmarks illustrate the current price landscape while underlining the sensitivity of the market to changes in supply chains, currency volatility, and export demand.
Earlier warnings from socialbites.ca highlighted expected changes in the price of cheese during the autumn period, underscoring that the meat and dairy sectors often move in response to overlapping factors such as seasonal demand, input costs, and macroeconomic conditions. Market watchers therefore advise consumers to monitor promotional cycles and retailers’ pricing strategies as provisional signals before any sustained price shifts take hold.