Cherkizovo: Warning of weak poultry prices

June 25, 2012

Russian chicken and pork producer Cherkizovo said that growth in poultry prices would be negligible in 2012, casting doubt over first quarter profit figures. The company, which has warned repeatedly that prices of its products will come under pressure following Russia’s entry into the WTO, said that Pork had held up in the first quarter but poultry had been disappointing. Chief Executive Sergey Mikhailov said in a statement that Cherkizovo saw poultry prices growing very slowly and did not expect significant price growth in 2012. They remain confident, though, about the future of the Poultry market.