Results Cherkizovo struggled with prices and export opportunities
Chicken: Sales volume of 168.3 thousand t declined by 2% y-o-y. Sales volumes of the premium brand Petelinka was in line with the results of the previous year, while volumes of Chicken Kingdom branded produce added 3% y-o-y. The company also significantly added export volumes, as foodservice demand remained well below the levels of the last year due to Covid-19 restrictions. Average sales price increased by 6% y-o-y.
Turkey: JV Tambov Turkey sales volume of 9.6 thousand t up 8% y-o-y, with sales of Pava-Pava branded products adding 23% y-o-y and boosting average sales price by 10% y-o-y.
Pork: Production volumes of 76.4 thousand t increased by 14% y-o-y, and sales volume reached 74.3 thousand t, up 14% y-o-y compared to 2Q19. The company gradually reach targeted production levels on the back of facilities ramp up and operational efficiencies gains. Prices declined by 11% y-o-y as the domestic market remains oversupplied with limited export possibilities.
Meat Processing: Sales volume increased by 1% y-o-y, as the company was pushing more sausages and carcass sales, up 6% and 11% respectively. Average sales price of the segment declined by 4%: as carcass price eased by 11% y-o-y, in line with live pork prices, and prices for sausages and cuts remaining stable.
(Bild: Imago Images / blickwinkel)
more about this topic