Official says meat prices in Russia unlikely to soar in 2019

MOSCOW, Jan 11 (PRIME) -- Russia’s retail meat prices will be stable in 2019, head of the executive board of the Russian National Meat Association Sergei Yushin told PRIME on Friday.

“I think that the consumer will see stable and calm meat price dynamics in 2019,” Yushin said.

He also said that average pork prices on the wholesale market are likely to fall due to rising production and stable imports, which means that retail prices will most probably not grow. Poultry prices will be affected by pork prices with broiler meat getting cheaper.

The Federal State Statistics Service said on Thursday that food prices increased 4.7% in 2018, including a 28.3% sugar price jump, a 25.9% for eggs, and a 9.7% increase for meat and poultry. Prices for food excluding spirits increased by 5.1%, while prices for alcohol went up 1.3%.

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