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TheCattleSite Latest News
Wednesday, April 21, 2010
Print This Page Russia Raising Beef Quotes
RUSSIAN FEDERATION - The Russian market has reportedly increased beef orders and offer prices, as tight supplies from South America and the recovering economy (driven by higher oil prices) have fuelled total beef imports after the distribution of the remaining 75 per cent of the import quota in late March.
The almost negligible current Argentinean supplies (due to a partial export ban by the local government), the redirection of Brazilian shipments to the Middle East market (mainly Iran, up 30 per cent in March to 17,467 tonnes swt), Uruguay’s focus in the EU and the strengthening of the ruble against the US$ have resulted in opportunities for other suppliers such as the US and Australia.
According to Meat and Livestock Australia, prices for forequarter cuts to Russia from South America have increased in recent weeks, while hindquarter cuts face competition from the US. The US Meat Export Federation has reported strong increases in weekly shipments to Russia totalling between 800 and 1,200 tonnes.
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