Russian meat firm Cherkizovo Group reported higher volume and value sales throughout 2014.
In a trading update released yesterday (28 January) Cherkizovo said that sales were higher across all its operating units. Poultry volumes were up 22% in the 12 months, while revenue in ruble terms increased 18%. Pork volume increased 8% but in value terms sales jumped a massive 47%. Processed meat volume gained 7% while price rose 12%.
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The company has benefited from lower competition from imported meats in Russia since the implementation of trade sanctions against the EU, US and other countries. This situation has resulted in an increase in both demand and prices in the market. The impact of these market conditions was particularly notable in the back part of the year.
