Cherkizovo: Positive 2014 H1 results in pork sector
Cherkizovo Group, Russia’s largest meat and fodder producer, has released their operational results for the first half of 2014, which shows an increase in pork sales price by an average of 50%.
Pork Division
Sales in the Pork Division in the first half of 2014 increased by 16% year-on-year (y-o-y) to 81,318 tonnes live weight, compared to 70,078 tonnes in the first half of 2013.
The average selling price in roubles increased by 50% y-o-y from 59.24 RUB/kg (€1.25) in the first half of 2013 to 88.72 RUB/kg (€1.88) in the first half of 2014. The price in the second quarter of 2014 increased by 41% to 103.67 RUB/kg (€2.19) compared to the price of 73.55 RUB/kg (€1.56) in the first quarter of 2014. The rapid price growth is mainly due to the import restrictions on pork in Russia.
The average selling price in dollars increased by 33% y-o-y from $1.91/kg (€1.42) in the first half of 2013 to $2.54/kg (€1.89) in the first half of 2014 (live weight). The price in the second quarter of 2014 increased by 41% compared to the price of $2.10/ kg (€1.56) in the first quarter of 2014.
Meat processing
Sales in the meat processing division were almost flat at 64,033 tonnes in the first half of 2014 compared to the corresponding period of 2013 (1H 2013: 63,226 tonnes).
The average selling price in roubles increased by 10% y-o-y from 146.08 RUB/kg (€3.09) in the first half of 2013 to 160.80 RUB/kg in the first half of 2014. The price in the second quarter of 2014 increased by 10% to 167.95 RUB/kg (€3.56) compared to the price of 152.52 RUB/kg (€3.23) in the first quarter of 2014.
The average selling price in dollars decreased by 2% y-o-y from $4.71/kg (€3.50) in the first half of 2013 to $4.60/kg in the first half of 2014. The price in the second quarter of 2014 increased by 10% compared to the price of $4.36/kg (€3.24) in the first quarter of 2014.
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