The Russian meat and poultry industry
is heading into financial trouble, says the Meat Council of the Eurasian
Economic Union.
It predicts there will be massive
bankruptcies by 2018, eliminating a quarter of the hog producers, 15 per cent
of poultry producers and 20 per cent of the meat processing companies.
It says Russians did well when the
government banned imports as part of a political spat with Europe over the
invasion of Crimea and battles along the Eastern border of Ukraine.
The Russian ban was in retaliation for
economic sanctions imposed by Europe, the United States and others.
But now the Russian market has been
supplied with domestic meat and poultry, prices and falling and the industry is
heading into the down side of the price cycle.
