Russia meat producer Cherkizovo has reported higher sales from both its poultry and pork divisions in the first nine months of the year.
In a regulatory filing yesterday (31 October), the company said poultry sales volumes increased by 27%. Gains were driven by organic volumes added in the Penza and Bryansk facilities as well as sales by Mosselprom, which is now fully integrated following its acquisition in May 2011.
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Poultry prices in rouble terms increased by 6% in the nine-month period, the company said. Third quarter prices rose 10% on the second-quarter, Cherkizovo added.
Sales volumes in the pork division increased by 7% for the first nine months of 2011. Prices in rouble terms were up 4%.
However, Cherkizovo revealed that sales volumes in the meat processing division decreased by 13% in the nine months. This decline was attributed to the closure of an inefficient slaughtering facility in southern Russia and a change in the product mix towards higher margin processed products.
Processed meat prices in rouble terms increased by 12%, again reflecting product mix adjustments.
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By GlobalData
