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Russian's largest producer of turkey meat Damate of Naum Babaev will expand into producing lamb meat in the Stavropol region, Vedomosti daily reported on November 28 citing the investment agreement signed with the regional authorities.
Representatives of the company commented that while there was no large-scale production of lamb in Russia, the demand the meat from retailers is high. Industry players, unions and retailers confirmed to Vedomosti that main producers of lamb meat in Russia are small fragmented farms.
Damate plans to invest RUB2bn, part of which is borrowed from Russian Agricultural Bank, to produce up to 15,000 tonnes of lamb meat annually after the construction of the project is completed in 18 months. To compare, Damate produced 62,000 tonnes of turkey meat in 2017.
Total output of lamb in Russia in 2017 was 222,000 tonnes, with a market growth of 1.5%. Should the market see more large players supplying quality meat, the marker could grow by 5%-10% annually, with high export potential, Damate told Vedomosti.
Another large meat producer Miratorg plans to launch its own lamb production in several Russian regions with a total capacity of 35,000 tonnes and investment of RUB27.5bn ($415mn).
Damate emerged as the market leader in the turkey meat segment in 2016, snapping the largest share from Eurodon (aka Evrodon). While in 2018 Eurodon was reportedly staging a comeback, latest reports suggested that the company is in trouble and looking for new investors.
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