Cherkizovo 9-mo poultry production up 6 pct on yr

October 26, 2010

REUTERS

Russia's largest meat producer Cherkizovo said on Tuesday its nine-month poultry production increased 6 percent year-on-year to 146,830 tonnes of meat, although the average rouble price fell 4 percent.

The company also said that pork production in the first three quarters of the year rose by 51 percent to 53,900 tonnes of meat.

"There's a short-term surplus of meat on the market ... which is pushing prices down," the company cited Sergei Mikhailov, Cherkizovo's chief executive, as saying.

"However, in the medium-term this situation will lead to a shortage of production and more aggressive meat price increase in 2011."