Some grain prices in Russia may rise by 10% – 20%

Russian news network reported on October 25 that Russian grain producers said that affected by the insufficient output in the main production areas, the prices of buckwheat, oats and cereal chips will rise by 10% – 20% from November. The price of buckwheat in Altai border region, one of the main producing areas of oats and buckwheat in Russia, rose from 57 rubles (about US $0.8) per kilogram to 80 rubles (about US $1.1). From August 1 to October 15 this year, the price of buckwheat, oats and barley increased by 38%, 32% and 36% respectively.

According to the Russian Federal Bureau of statistics, the average price of buckwheat in Russia is 102.5 rubles (about US $1.46) per kilogram, oats and Pearl wheat – 45.2 rubles (about US $0.7), and oatmeal – 80.5 rubles (about US $1.2). Large Russian agricultural enterprises complain that grain prices have risen twice in a year. According to the data of the Russian Ministry of agriculture, the grain harvest was normal. The annual buckwheat planting area increased by 12.1%. As of October 22, the harvest increased by 3% over the same period last year.

In 2020, Russia harvested 893000 tons of buckwheat, a year-on-year increase of 13.5%. The main exporting countries are China, Latvia, Ukraine, Lithuania and Japan.

Source: Economic and Commercial Department of the Embassy in the Russian Federation

Post time: Nov-08-2021