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on August 13, 2009

Cherkizovo posts higher poultry, pork sales

Weak ruble reduces profits in US dollars during first six months.

Russian meat firm Cherkizovo has posted higher poultry and pork sales in the first half of 2009, according to Reuters. Poultry sales rose 5% to 92,840 metric tons while pork sales went up 8% to 21,250 metric tons.

Though the firm's products drew higher prices in rubles they declined in dollar prices because of the depreciation of Russian currency. Poultry prices registered a 16% rise to 72.32 roubles per kg, but went down 15% in dollar terms to $21.19 per kg. Pork prices rose 23% to 75.41 roubles per kg but fell 11% in dollar terms to $2.28 per kg.

Meat sales dropped 14% to 61,550 metric tons, mainly due to a fall in sales of low-margin processed meat products and reduced consumption outside Russia's major cities. The meat processing division of the firm saw average prices per kg rise 17% to 111.43 roubles. In dollar terms, prices fell 15% to $3.37.

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