OREANDA-NEWS. August 01, 2013. Cherkizovo Group (LSE:CHE), Russia’s leading integrated meat and fodder manufacturer, announces its operating results for the first half of 2013. 

Poultry Division 
Sales volumes in the Poultry division for the first half of 2013 increased by 4% y-o-y to approximately 165 114 tonnes of sellable weight compared to 158 345 tonnes for the first half of 2012. 

Prices in ruble terms increased by 4% y-o-y from 73.61 RUR/kg in the first half of 2012 to 76.62 RUR/kg in the first half of 2013. Compared to the price of 76.92 RUR/kg in the first quarter of 2013, the price in the second quarter of 2013 decreased by 1%.

Prices for poultry in dollar terms increased by 3% y-o-y from USD2.40/kg in the first half of 2012 to USD 2.47/kg in the first half of 2013*. Compared to the price of USD 2.53/kg in the first quarter of 2013, the price in the second quarter of 2013 decreased by 5%. 

Pork Division 
Sales volumes in the Pork division in the first half of 2013 increased by 50% y-o-y to approximately 70 078 tonnes of live weight, compared to 46 764 tonnes in the first half of 2012.

Prices in ruble terms decreased by 27% y-o-y from 81.32 RUR/kg in the first half of 2012 to 59.24 RUR/kg in the first half of 2013. Compared to the price of 57.59 RUR/kg in the first quarter of 2013, the price in the second quarter of 2013 increased by 6% to 61.06 RUR/kg. 

In dollar terms, price for pork decreased by 28% y-o-y from USD 2.65/kg in the first half of 2012 to USD 1.91/kg in the first half of 2013 (live weight). Compared to the price of USD 1.89/ kg in the first quarter of 2013, the price in the second quarter of 2013 increased by 2%.  
 
Meat Processing Division 
Sales volumes in the Meat Processing division increased by 2% y-o-y to approximately 63 226 tonnes in the first half of 2013 from 62 105 tonnes for the first half of 2012. 

Prices in ruble terms increased by 1% y-o-y from 144.11 RUR/kg in the first half of 2012 to 146.06 RUR/kg in the first half of 2013. Compared to the price of 147.16 RUR/kg in the first quarter of 2013, the price in the second quarter of 2013 decreased by 1%. 

Prices in dollar terms increased by 0.1% y-o-y to USD 4.71/kg in the first half of 2013 compared to USD 4.70/kg in the first half of 2012. Compared to the price of USD 4.84/kg in the first quarter of 2013, the price in the second quarter of 2013 decreased by 5%.

Grain Division 
Sales volumes in the Grain division decreased by 43% y-o-y to 12 149 tonnes in the first half of 2013 from 21 193 tonnes for the first half of 2012. This volume decrease was due mostly to high sales of the 2012 grain harvest at the end of 2012 following a more favorable price environment.

Prices in ruble terms increased by 52% y-o-y from 5.58 RUR/kg in the first half of 2012 to 8.50 RUR/kg in the first half of 2013. Compared to the price of 8.45 RUR/kg in the first quarter of 2013, the price in the second quarter of 2013 increased by 2%. 

Prices in dollar terms increased by 50% y-o-y from USD 0.18/kg in the first half of 2012 to USD 0.27/kg in the first half of 2013. Compared to the price of USD 0.28/kg in the first quarter of 2013, the price in the second quarter of 2013 decreased by 2%. 

In July Cherkizovo starts harvesting in the Voronezh and Orel regions. In this agricultural season the Company sowed about 40 thousand hectares of arable land including 25 thousand hectares under spring crops (wheat, barley, corn, and oats) and about 15 thousand hectares under winter crops. For all of 2013 Cherkizovo plans to harvest approximately 150 000 tonnes of grain. 

*        All prices in this press-release exclude VAT. All percentage figures in tables are rounded to decimal number, absolute numbers are rounded to two decimal number.