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Cherkizovo to Benefit from Russian Meat Quota Cuts, Moody’s Says

01 august 2011
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Russian pork and poultry producers including OAO Cherkizovo and Miratorg will benefit from the government decision to cut meat quotas in 2012, according to Moody’s Investors Service.

«Curbing cheaper imported meat would help domestic producers’ revenue and profitability and allow them to continue financing their modernization without increasing their debt, «Moscow-based analyst Sergei Grishunin said in a report today.

In 2012 pork producers will be able to pass most of their cost increases to consumers, while poultry prices are forecast to remain under pressure through next year, Grishunin said. The Russian meat market has been in oversupply since the start of 2011 after higher imports in the fourth quarter of 2010, which led to lower prices, he wrote.

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