Russian Ministry of Agriculture predicted prices for bread and butter in February

Published 2021년 12월 24일

Tridge summary

The Ministry of Agriculture in Russia predicts a rise in the prices of retail wheat flour, bread, and sunflower oil by February 2022. This is due to increasing producer costs such as utilities, logistics, and packaging, despite falling global prices for grain and oilseed. The proposed price increases are 3.7% for wheat flour, 2.1% for bread, and 2.2% for sunflower oil. The situation, however, may change if the coronavirus situation worsens or if inflation begins to slow down. Experts believe that the rise in prices is not linked to an increase in the cost of raw materials but is due to rising producer costs, leading to a negative impact on retail prices and potentially a slight correction in sunflower oil prices.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

By February, retail wheat flour may rise in price by 3.7%, bread - by 2.1%, sunflower oil - by 2.2% versus November indicators. This is stated in the report of the Ministry of Agriculture to the government, which Izvestia got acquainted with. While grain and oilseed prices are falling in global markets, producer costs continue to rise. Utilities, logistics, packaging and other components of the cost of production are becoming more expensive, the Ministry of Agriculture told Izvestia. If the situation with the coronavirus does not worsen, then by the spring of next year, inflation will begin to slow down, economists are sure. Forecast for increase The Ministry of Agriculture has prepared a forecast on how the prices for food products will change in the coming weeks. The document, which Izvestia got acquainted with, is dated December 10, the department sent it to the government. It follows from the report that one should expect a rise in the price of wheat flour, bread made from it, ...

Source: Oilworld