Rising Beef Prices in Russia: Impact, Causes, and Forecasts

2023-11-26 02:17:00

Beef prices will rise by up to 10% due to a decrease in production Photo: Alexander Elizarov © URA.RU

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Prices for goods in Russia

Beef prices are expected to rise in Russia. By the end of this year, its price is expected to rise by 7-10%. Roman Kostyuk, General Director of the National Union of Beef Producers, spoke regarding this.

“Beef will continue to rise in price. By the end of the year, its value will increase by at least the inflation rate, that is, by 7-10 percent,” Roman Kostyuk emphasized, reports Parlamentskaya Gazeta. The pre-New Year period will also contribute to price increases.

The expert calls one of the reasons for the rise in prices for this type of meat a drop in its production due to a reduction in the number of cattle. Chairman of the Russian Consumer Union Pyotr Shelishch also spoke regarding the rise in price of beef. He stressed that we should not expect its price to fall yet. Shelishch also recalled the rise in price of pork by 14.4% and chicken by 29.7%.

A month ago, Rosstat reported that meat prices had risen by 7.9% in just one week. Then there was an increase in prices for pork and beef. Also, chicken meat has risen in price in 71 regions of the Russian Federation.

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Beef prices are expected to rise in Russia. By the end of this year, its price is expected to rise by 7-10%. Roman Kostyuk, General Director of the National Union of Beef Producers, spoke regarding this. “Beef will continue to rise in price. By the end of the year, its value will increase by at least the inflation rate, that is, by 7-10 percent,” Roman Kostyuk emphasized, reports Parlamentskaya Gazeta. The pre-New Year period will also contribute to price increases. The expert calls one of the reasons for the rise in prices for this type of meat a drop in its production due to a reduction in the number of cattle. Chairman of the Russian Consumer Union Pyotr Shelishch also spoke regarding the rise in price of beef. He stressed that we should not expect its price to fall yet. Shelishch also recalled the rise in price of pork by 14.4% and chicken by 29.7%. A month ago, Rosstat reported that meat prices had risen by 7.9% in just one week. Then there was an increase in prices for pork and beef. Also, chicken meat has risen in price in 71 regions of the Russian Federation.

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