Prices for live pigs and pork in Russia have reached their highest levels since 2015, according to data tracked by consulting firm, AD Libitum, as quoted by business daily Vedomosti.
The figures show that prices for commercial pork earlier this week saw a 7% week-over-week increase, representing a 20% surge compared to the same period a year ago, and hitting an eight-year high.
The growth in prices has resulted from a recent shortage, with meat producers unable to satisfy demand from wholesale dealers and processors, AD Libitum analysts say, warning that prices could continue to rise in the coming weeks.
Konstantin Korneev, executive director of the Russian consulting firm Rincon Management, told the media that pork prices have been catching up with prices for chicken, which had previously seen a sharp surge. He added that processors are shifting towards pork as chicken is currently more expensive.
According to AD Libitum,
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