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Russia Meat Prices Slump Due To Oversupply

by 5m Editor
23 March 2007, at 9:41am

RUSSIA - Russia's Agriculture Minister, Alexei Gordeyev, has asked President Putin to instruct the government to urgently address problems related to large-scale meat imports into Russia, according to the Interfax news agency.

Gordeyev said that if the President gives instructions to address the issue then the problem of large-scale imports could be resolved within two or three months.

Gordeyev added that rising meat imports have depressed meat prices, especially the price of pork, on the Russian market.

He noted that meat prices have fallen by 30-40 per cent as compared with 2006.

Rising meat imports have taken place at a time when domestic pork production has risen, with farmers finding the situation "... alarming, especially those who have taken loans to expand meat production", said Gordeyev.

The Minister attributed the fall in meat prices in Russia to large-scale imports from North America and the European Union, and also to meat smuggling into Russia.

5m Editor