Russian chicken prices rocket
Prices rose by more than 23% in 2008
The average retail price for meat and poultry in Russia rose by more than 23% in 2008, outstripping the overall increase in food prices by 18%, according to the latest GAIN report from the USDA.
Russia continues to implement protectionist measures against imported agricultural products, delisting foreign meat and poultry processing plants for ostensibly not meeting local requirements.
Additionally, agriculture ministry officials have stated that they will continue limiting poultry imports to protect local production during the financial crisis. As the crisis hits ordinary Russians, consumers are turning away from more expensive meats, and demand is increasing for chicken. The combination of restricted supply and increasing demand resulted in poultry meat being the main contributor to January’s increase in inflation in Russia, which rose to 2%.