Rapid growth forecast in Russian turkey marke...

Rapid growth forecast in Russian turkey market

Russia's turkey production could grow up to eight times over the coming decade if all the projects announced so far are implemented, according to the country's Statistics Service, known as Rosstat.

Analysts estimate that projects already announced for turkey meat production amount to a total capacity of 800,000 t or $3bill. per year - and all of them are designed to be implemented before 2022. So the market size could reach 1 mill. t per year.

Yet others doubt that all of these projects will really be implemented.

Growth in production will also be accompanied by a fall in prices, say experts, as they doubt that the rate of demand for turkey will increase at the same rate as supply. As a result, the poultry and meat production holding company Damate, for example, has decided to hold off on one of two previously announced projects for turkey production. Russia's Ministry of Agriculture also doubts that the rate of consumption in Russia will exceed 300,000 t in the foreseeable future.
Source: Rosstat