In Russia, prices for buckwheat may jump sharply by about 10-15% in the near future

Published 2021년 4월 28일

Tridge summary

Retail chains and suppliers in Russia are predicting a 10-15% increase in buckwheat prices due to a variety of factors including high demand, poor harvest, and increased costs of packaging. The Ministry of Industry and Trade is monitoring the situation and has asked retail chains for detailed information on the rising costs. Some retailers have not yet accepted the price increases proposed by suppliers. The high export rates of buckwheat, especially to China, Japan, and the countries of the former USSR, are also contributing to the market imbalance and the price hike.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Representatives of retail chains and suppliers warn that prices for buckwheat in Russia may rise by 10-15% in the near future. They have already started sending out notifications to retailers. This was reported by the Vedomosti newspaper. According to the information, Russian representatives of several retail chains and suppliers are discussing the increase in prices for cereals. The Ministry of Industry and Trade is already concerned about a possible rise in prices: it asked retail chains to provide detailed information on the dynamics of the cost of products. As the representative of the Verny chain of stores confirmed in a conversation with Vedomosti: back in February, suppliers began to write letters about an increase in purchase prices for cereals by 7.5-15%, starting in March and April. He assures that so far "Verny" has not accepted any of the proposals to increase the cost. “Purchase prices for cereals have a“ steady upward trend, ”says Vadim Zhurov, commercial director of ...
Source: Agrosektor

Would you like more in-depth insights?

Gain access to detailed market analysis tailored to your business needs.
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.