Support The Moscow Times!

Russian Meat Company's Prices, Sales Jump After Putin's Import Bans

Cherkizovo increased pork sales by 8 percent to 170,172 tons last year.

Russian meat company Cherkizovo said on Wednesday its average sales price for pork grew 47 percent in rubles in 2014, helped by import restrictions on some Western food.

Cherkizovo increased pork sales by 8 percent to 170,172 tons last year. Poultry sales rose 22 percent, year-on-year, to 416,622 tons with prices up 18 percent, it said in a statement.

President Vladimir Putin last year signed a decree "banning or limiting" imports of agricultural products from all countries that had imposed sanctions on Russia. The bans cover imports of beef, pork, fruit and vegetables, poultry, fish, cheese, milk and dairy products.

Inflation in Russia hit 11.4 percent in 2014, driven by the import bans and the precipitous devaluation of the Russian currency. Average food prices climbed 15.9 percent, with the price of some food groups rising even faster, according to data from state statistics service Rosstat.

Material from The Moscow Times was included in this report.

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.