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Russia’s antimonopoly authority says no grounds to check growth of pork prices

The Service ruled out a possibility of a cartel agreement between the numerous players on the Russian pork market

© ITAR-TASS/Vasily Aleksandrov

KAZAN, May 15 /ITAR-TASS/. Russia’s Federal Antimonopoly Service said on Wednesday there were no grounds to probe into the growth of wholesale pork prices.

The Service’s deputy director, Andrei Tsyganov, ruled out a possibility of a cartel agreement between the numerous players on the Russian pork market. “The market is absolutely competitive, with an exception of just a few regions. We have nothing to do on this market,” he told Itar-Tass. “Price growth was caused by decreased pork imports from Europe over the threat of an African swine fever outbreak.”

According to the Russian State Statistics Agency, pork prices went up by 2.2% in the first week of May 2014 to 230.77 roubles (6.6U.S. dollars) per kilo. Meanwhile, the National Meat Association reported a growth of pork prices from 114 roubles (3.3 U.S. dollars) per kilo in January 2014 to 152 roubles (4.4 U.S. dollars) per kilo in April 2014. Russia’s pork imports in the first quarter of 2014 dropped by 27% on the same period last year.

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