Sep 15, 2020
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Market experts expect further growth in food prices in Russia

Prices for vegetables, oats, sugar, sunflower oil in shops and retail chains will go up in the near future. This forecast was given by the head of the board of the Association of Retail Market Experts Andrey Karpov.

The forecast is unfavorable, and we will continue to see an increase in prices, - quotes his OTP.

Karpov added that prices in Russia will rise for two reasons. First, due to weather surprises. Secondly, due to the growth in global demand for products. At the same time, the reduced supply of domestic products will be compensated by imported suppliers and retail chains.

In particular, the prices for sugar and sunflower are growing in the world. Plus, the ruble exchange rate has changed. Accordingly, the increased demand and the decreased ruble exchange rate also exert their pressure on prices.

As wrote, in the near future the price of potatoes in Russia may rise sharply. This was warned by the Association of Peasant Farms and Agricultural Cooperatives of Russia (AKKOR).

This may be facilitated by a coronavirus pandemic, a delay in the start of the sowing campaign, as well as unfavorable weather conditions in a number of regions.

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