Russia                                   

Russia                                                                                           

Auction Sells Out Pork And Frozen Beef Quota Amounts

The Russian Ministry of Economic Development professed itself satisfied with the results of the meat import quota auction it conducted on October 11. The bans on imports of U.S. beef, and Brazilian and Chinese meat did not prevent Russian importers from buying most of the 10 percent of the annual (2004) quotas offered for sale. The quotas for frozen beef (41,500 mt) and pork (45,000 mt) sold out. Quotas for 1,000 mt of the 2,750 mt of chilled beef on sale were sold. The quotas sold for twice their minimum bids.

The head of the Meat Auction Commission, Yuriy Buykin, expressed the opinion that the quotas would be filled by meat from Argentina and Paraguay. A shortage of meat supply in Russia had increased demand for the quotas. Trade analysts predict pork imported through the end of the year will sell for 46-70 cents more per kilo than current prices, but demand will keep sales buoyant. As much as one-third of the imports is unlikely to arrive until late December.

Russia                                                                                           

Auction Sells Out Pork And Frozen Beef Quota Amounts

The Russian Ministry of Economic Development professed itself satisfied with the results of the meat import quota auction it conducted on October 11. The bans on imports of U.S. beef, and Brazilian and Chinese meat did not prevent Russian importers from buying most of the 10 percent of the annual (2004) quotas offered for sale. The quotas for frozen beef (41,500 mt) and pork (45,000 mt) sold out. Quotas for 1,000 mt of the 2,750 mt of chilled beef on sale were sold. The quotas sold for twice their minimum bids.

The head of the Meat Auction Commission, Yuriy Buykin, expressed the opinion that the quotas would be filled by meat from Argentina and Paraguay. A shortage of meat supply in Russia had increased demand for the quotas. Trade analysts predict pork imported through the end of the year will sell for 46-70 cents more per kilo than current prices, but demand will keep sales buoyant. As much as one-third of the imports is unlikely to arrive until late December.