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Cherkizovo Poultry Sector Plumping Up
RUSSIA - Cherkizovo, one of Russia's leading integrated and diversified meat producers, today an announced a six per cent increase in poultry sale volumes for their first quarter of 2008.Poultry Division
Total sales volumes in the Company's poultry segment increased in the first quarter of 2008 to approximately 41,500 tonnes as compared to approximately 39,000 tonnes in the same period in 2007.
Prices for poultry increased by 27% in the first quarter of 2008 to $2.59 per kg (excluding VAT) as compared to $2.04 per kg (excluding VAT) in the first quarter of 2007. In rubles, prices increased by 17% to 62.83 rubles per kg (excluding VAT) as compared to 53.79 rubles per kg (excluding VAT) in the first quarter of 2007. Data includes volumes and prices relating to the production of OJSC Kurinoe Tsarstvo (Chicken Kingdom), which the Company acquired at the end of August 2007, with the 2007 first quarter data being included on a pro forma basis.
Meat processing Division
In its meat-processing segment, the Company continued to increase the share in its product mix of premium and higher margin value-added products, such as semi-smoked, cooked smoked sausages, deli and meat retail format, and decrease volumes of lower-priced, lower margin products. Sales volumes in the first quarter of 2008 within the meat-processing segment increased by 4% to approximately 34,000 tonnes as compared to approximately 32,800 tonnes in the first quarter of 2007.
As a result of the continuing shift towards higher margin products average prices within the meat-processing segment increased by 19% in the first quarter of 2008 to $3.81 per kg (excluding VAT) as compared to $3.20 per kg (excluding VAT) in the first quarter of 2007. In rubles the prices increased by 10% to 92.54 rubles per kg (excluding VAT) as compared to 84.18 rubles per kg (excluding VAT) in 2007.
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