Russian meat, poultry and grain company Cherkizovo Group reported a year-over-year increase in sales volumes for its turkey operations, but a decline in sales volumes for its chicken operations for the second quarter of its 2018 fiscal year.
Chicken business
According to a press release from Cherkizovo, the group’s chicken sales volume of 130,980 metric tons for the most recent quarter, which was up by about a percent when compared to the second quarter of the 2017 fiscal year. On a quarter-over-quarter basis, however, Cherkizovo’s chicken sales volumes dropped by about 5 percent.
Chicken sales volumes strictly for the month of June also were up by about one percent on a year-over-year basis.
The company reported that significant average sales price growth, compared to the previous quarter and year-on-year results, is attributed to the chicken market being undersupplied with lower deliveries from some domestic producers, and the positive effect from our Petelinka and Chicken Kingdom branded products quickly gaining market share on key markets.
Turkey business
The Tambov Turkey business, a partnership between Russia’s Cherkizovo and Spain’s Grupo Fuertes, increased its volumes in the second quarter, both on a year-over-year and quarter-over quarter basis.
When compared to the second quarter of the 2017 fiscal year, volumes increased by about 73 percent. It’s volumes increased by about eight percent when compared to the first quarter of 2018.
For the month of June, turkey sales volumes increased by about 59 percent when compared to June 2017.
According to the company’s press release, a higher share of branded value-added products in the sales mix resulted in an average price rising 16 percent compared to the previous quarter, however, down 13 percent when compared to the second quarter of 2017.
Grain business
Due to the seasonal nature of the grain business, Cherkizovo only posts those results on an annual basis to better reflect the performance.
