15.
03.15
10:21

High rates of inflation in the Russian food - pork up to 30% more expensive

Russian food courses are booming - a high price for the conflict in Ukraine

The Russian ban on imports of food products from August 2014 as a countermeasure to the Western sanctions has resulted in a decline with lower income. The purchasing power of the ruble in international trade has dropped by 75%. The General Inflationsrate is 18% and interest cost well above 20%.

The food prices in Russia have risen on average between 14% and 18%. Russian food supply decreased by 10 to 15%. More money for fewer goods.

The pork imports are throughout the year 2014 to 30% down. It should be noted that the import ban only in parts of the year has taken.  The attempt by substitute imports from Brazil, to cover Chile and Serbia the demand gap, failed for the most part. The deliveries were simply too expensive by almost available quantities, rising input prices, high transport costs and the loss of purchasing power of the ruble.

The approach, with the help of government funding the Russian Equity production to increase, has shown effects only in very small beginnings. The high profit margins in the agricultural sector to encourage agricultural investment, but their results are effective only in the medium term.

Consumer prices for pork in Russia have risen by 22 to 30% depending on the part of. Consumers are therefore partly switched to poultry meat. The white meat is available in a self-sufficiency rate of 90-95% in Russia to a greater extent. Imports from Brazil, Argentina and Turkey were more productive than in the case of pork and beef. However, chicken prices failed to 34% higher in December 2014 than in the same month last year.

That are already expensive beef soared only to 10-12%. Comparatively little necessary spare imports as before already came from Brazil, Argentina and Turkey.

She increased since decades falling milk production of Russia in 2014 by 1% compared with the previous year. A significant amount of milk has benefited the cheese production. Imports of cheese has fallen from the ban Aug. 2014 by 30%. The EU had until then accounted for 60% of the Russian imports, the Ukraine had sent up to 2013 80% of exports of cheese to Russia. Replacements from a variety of non-blocked countries could cover less than 10% of Russian import demand.

The Russian import lock is limited to one year to August 2015. However, should developments in the Ukraine conflict not a lifting be expected. Conceivable part import relaxations will achieve little big effects through added purchasing power problem. A return to old conditions is unlikely. A full year of 2015 is the litmus test for Russian consumers.

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