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Ministry of Agriculture predicts poultry prices to drop in September

The Russian Ministry of Agriculture explained that the current increase in poultry prices is seasonal. Prices are expected to drop in September.

Ministry of Agriculture predicts poultry prices to drop in September
Photo by Alexander Plonsky /V&L

“The current increase in poultry prices is seasonal, which is common for the summer period,” the ministry’s press service told TASS.

The ministry also said that prices grew due to the development of domestic tourism, which also contributed to the increase in demand. Besides that, the price dynamics were affected by the growth of production costs.

“The reduction of prices is expected in the market as soon as September, which is confirmed by the major poultry producers,” the ministry said.

In the first six months of this year, the country produced 3,8 million metric tons of poultry (liveweight), which is 1,3% more than in the same period in 2022, the ministry added.

Dmitry Patrushev, the Minister of Agriculture of Russia, earlier made a comment on the rising prices. According to him, a slight increase in the cost of poultry occurs annually during this period of time. “This happens year after year. There are certainly no shortages, as we are completely self-sufficient in this kind of food,” said Dmitry Patrushev. The situation in the market is stable, he said.

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English version, 1 Sep 2023 01:43
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