OREANDA-NEWS. May 06, 2014. Cherkizovo Group (LSE: CHE), Russia’s leading integrated meat and fodder producer, announces its operational results for the first quarter of 2014.

Poultry Division
Sales volume in the Poultry division for the first quarter of 2014 increased by 13% to 90 506 tonnes of sellable weight (1Q 2013: 80 370 tonnes) including 1 651 tonnes of sellable weight produced by LISCO Broiler since the day of the acquisition of this company by Cherkizovo (March 24).

The average price in ruble terms increased by 1% to 77.90 RUR/kg from 76.92 RUR/kg in the first quarter of 2013. Compared to the price in the fourth quarter of 2013 of 78.05 RUR/kg, the price in the first quarter of 2014 was almost flat.

The average price for the poultry in dollar terms decreased by 12% to USD 2.23/kg in the first quarter of 2014 from USD2.53/kg in the first quarter of 2013. Compared to the price in the fourth quarter of 2013 of USD 2.40/kg, the price in the first quarter of 2014 decreased by 7% due mostly to the weakening of the ruble against the U.S. dollar.

Pork Division
Sales volume in the Pork division in the first quarter of 2014 increased by 17% to 40 352 tonnes of live weight, compared to 34 429 tonnes in the first quarter of 2013.

The average price in ruble terms increased by 28% to 73.55 RUR/kg in the first quarter of 2014 from 57.36 RUR/kg in the first quarter of 2013. Compared to the price in the fourth quarter of 2013 of 71.32 RUR/kg, the price in the first quarter of 2014 increased by 3%.

The average price in dollar terms increased by 12% to USD 2.10/kg in the first quarter of 2014 from USD 1.89/kg in the first quarter of 2013. Compared to the price in the fourth quarter of 2013 of USD 2.19/kg, the price in the first quarter of 2014 decreased by 4%.

Meat Processing Division
Sales volume in the Meat Processing division was almost flat at 29 670 tonnes in the first quarter 2014 (1Q 2013: 29 442 tonnes).

The average price in ruble terms increased by 4% to 152.52 RUR/kg in the first quarter of 2014 from 147.16 RUR/kg in the first quarter of 2013. Compared to the price in the fourth quarter of 2013 of 156.32 RUR/kg, the price in the first quarter of 2014 decreased by 2%.

The average price in dollar terms decreased by 10% to \\$4.36/kg in the first quarter of 2014 from \\$4.84/kg in the first quarter of 2013. Compared to the price in the fourth quarter of 2013 of \\$4.80/kg, the price in the first quarter of 2014 decreased by 9% due mostly to the weakening of the ruble against the U.S. dollar.

Grain Division
Sales volume in the Grain division increased by 138% to 20 642 tonnes from 8 668 tonnes for the first quarter of 2013.

The average price decreased by 30% to 5.91 RUR/kg in the first quarter of 2014 from 8.46 RUR/kg in the first quarter of 2013. Compared to the price in the fourth quarter of 2013 of 6.37 RUR/kg, the price in the first quarter of 2014 decreased by 7%.

The average price in dollar terms decreased by 39% to USD 0.17/kg in the first quarter of 2014 from USD 0.28/kg in the first quarter of 2013. Compared to the price in the fourth quarter of 2013 of 0.20 USD /kg, the price in the first quarter decreased by 14%.