Wednesday, September 17, 2014

Russians invest to increase meat production

Russian meat companies are announcing major expansions in the wake of the government’s ban on imports from Europe, the United States, Canada and Australia.

The bans are the Russian response to economic sanctions countries are applying to Russia to pressure her to stop battling for control over more of Eastern Ukraine.

Typical of the meat-industry response is the announcement this week by Cherkizovo Group which said it will spend more than $115 million Cdn to increase poultry and pork production in Russia’s Voronezh Region.

Cherkizovo is Russia’s largest meat processor.

It says it will also build more slaughter capacity to increase production by 15,000 tons in 2015.

Plans also include construction of seven hog-raising complexes with capacity of more than 35,000 tons of marketable pork per year.

That will enable the company to triple pork production to more than 50,000 tonnes per year.