Russian beef importers are resuming trade as a result of the measures taken by the Russian government, which have added liquidity into the market, increasing credit for local importers.
Trade was seriously affected during September and October as a result of large stocks in Russia and the global credit crunch – which erased credit and saw the rapid appreciation in the $US.
These events saw many Russian importers being unable to honour current contracts, resulting in the renegotiation of many contracts.
This instability in the beef trade has seen beef stocks in the country gradually decrease.
So the Brazilian Beef Exporters’ Association says it is expecting that trade will return to normal early in the New Year.
Bu then, all stocks of imported beef are likely to be consumed and Russian ports will have started to recover from the freezing winter conditions.
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