Milk production cost in Russia increased by 3.1% in September

The cost of raw milk production in Russia increased by 3.1 percent last month compared to August, Milknews reports, citing data from the Soyuzmoloko analytical center. It also exceeded the level of the same month last year by 9.2 percent. Its increase is due to the continuing rise in prices for the main components of production. In particular, according to Rosstat, the cost of meals and cakes increased by 4.2 percent in a month, feed grain by 1.8, and electricity by 0.9, amid continued inflation and expectations of further increases in labor costs, as well as a seasonal decline in productivity. In addition, the increase in the Central Bank's key rate and the growth of rates on short-term loans (including preferential ones) attracted by agricultural producers to finance operating activities also contribute to the increase in cost. However, this increase in cost was 0.3 percentage points less than the old forecasts due to a less significant (compared to expected) adjustment in ...