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Russian Meat Producer Cherkizovo Sees Profit in Food Import Ban
Russian meat producer Cherkizovo said Monday that a ban on agricultural imports from the West would probably have a positive impact on the company's business. Russia banned meat, fish, dairy, fruit and vegetable imports from the U.S., the EU's 28 member states, Norway, Canada, and Australia on Thursday in retaliation against sanctions over the Ukraine crisis. "As these restrictions will most likely support meat prices at current levels, this will be favorable for the group's financial performance," it said in a statement.
The poultry and pork producer said it did not immediately plan to increase production this year but would analyze the market environment to work out a mid-term strategy.
The company said it expected a shortfall in the pork market as domestic producers only cover 70 percent of market needs, adding that local farms could close the gap within the next two or three years with state support.
By contrast, the poultry market is already almost fully supplied by local producers and the import ban should have no major impact on prices, it said.
Russia consumes about 4 million tons of poultry and 3.5 million tons of pork a year. Annual import quotas stand at 360,000 tons for poultry and 430,000 tons for pork.
However, Russia banned pork imports from the EU in March this year for veterinary reasons. In July, Cherkizovo said those restrictions had resulted in its average pork selling price rising 50 percent in the first half of 2014.
Read the full article at: http://www.themoscowtimes.com/article/504885.html
Cherkizovo Group unveils its exclusive processed meat products
08 june 2023
Cherkizovo Group unveils its exclusive processed meat products
Cherkizovo Group is Russia's largest sausage producer with an assortment of over 200 items, including cooked and smoked sausages, dry sausages and a variety of deli meats under the flagship Cherkizovo and Cherkizovo Premium brands. The Company maintains a strong focus on developing new product recipes to cater to the needs of a diverse customer audience. Today, we will share insights into some of our most highly rated and remarkable products.
Expert RA upgrades Cherkizovo Group’s rating to ruAA-
01 june 2023
Expert RA upgrades Cherkizovo Group’s rating to ruAA-
Cherkizovo Group (MOEX: GCHE), Russia’s largest meat producer, announces that Expert RA has upgraded its credit rating to ruAA- and revised its outlook from positive to stable.
Cherkizovo Group and Smenka complete renovation of school canteens in Russian regions
29 may 2023
Cherkizovo Group and Smenka complete renovation of school canteens in Russian regions
Cherkizovo Group and Smenka, a social initiative and YouTube show, have successfully completed a joint project to renovate school canteens. As a result of this collaboration, three canteens (two in the Penza Region and one in the Altai Territory) got a modern makeover, with schoolchildren now having an opportunity to eat in comfortable facilities and develop healthy eating habits.
Crystal Cherkizovo played volleyball game with kids from UNITY foundation
25 may 2023
Crystal Cherkizovo played volleyball game with kids from UNITY foundation
Crystal Cherkizovo, a volleyball club whose main sponsor is Cherkizovo Group, met children with cancer supported by the UNITY charity foundation to talk about the history of volleyball and play an exhibition game.
