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Double-Digit Growth for Cherkizovo Poultry Sales

by 5m Editor
12 August 2008, at 9:21am

RUSSIA - The meat company has announced its first-half poultry sales volumes rose 11 percent to about 88,350 tonnes, while poultry prices rose a lower-than-expected 11 percent in the first six months of 2008.

OJSC Cherkizovo Group said poultry prices rose but did not reach management expectations in the second quarter, primarily through increased imports, particularly from the United States and Brazil, which undercut local producers, reports Forbes citing Thomson Financial News.

However, the company experienced price rises in July and expressed confidence for continued poultry price improvement in the second half of the year.

Sales volumes in the meat processing segment increased 2 per cent to about 71,800 tonnes, the company said.

5m Editor