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AKORT chief Bogdanov says Russia’s lowest-priced pork fell 19% since the start of the year
AKORT Chairman Stanislav Bogdanov said the lowest-priced pork in Russia had fallen 19% since the start of the year. During the same period, the lowest retail price of eggs declined by 18% and that of butter by 14%; prices also fell for rice, millet, potatoes and seasonal apples.
Retail prices for some basic food products in Russia have fallen since the start of the year. The steepest decline, at 19%, was recorded for the lowest-priced pork products at major retail chains.
Stanislav Bogdanov, chairman of the Association of Multi-Channel Retail Companies (AKORT), said the lowest retail price of eggs had declined by 18% and that of butter by 14%. Bogdanov said rice, millet, rye bread and potatoes were also among the products whose prices fell between January and September.
Declines in pork and egg prices
The increase in production, along with competition from chicken and turkey, contributed to lower pork prices. Lamb prices also fell by 5%.
Bogdanov said egg purchase and retail prices declined gradually for more than seven months before stabilizing. Retail chains applied their lowest profit margins to eggs and sold them below the purchase price during some periods of the year.
Declines in rice and agricultural products
Since the start of the year, rice prices have fallen by 12% and millet prices by 9%. Prices for potatoes and seasonal apples declined by 6%.
Source: RIA Novosti
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