Russia: The Milk price will rise while sunflower oil will fall

Published 2021년 8월 24일

Tridge summary

A recent analysis by the PRUE. G.V. Plekhanov examines the global impact of rising world prices on Russia's food market, with a significant increase in food inflation, now at 8%, leading to higher costs for commonly consumed items. Factors such as the high cost of livestock production, foreign exchange and financial market fluctuations, and increased logistics costs contribute to the trend. The bakery industry and milk prices are expected to see significant increases. Despite an abundant grain harvest, bread prices are also set to rise due to unstable grain market prices, sugar shortages, and increased logistics costs. However, the sunflower oil market may see price drops due to a predicted record sunflower harvest and global price decreases. The article emphasizes the need for state efforts to maintain food demand, particularly among socially vulnerable groups.

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

Original content

Experts made a forecast for the fall The increase in world prices also affects the cost of products in our country. How will it change in the coming months? Which products are at risk of rising prices, and which ones may become cheaper? These and other questions were answered by the expert of the PRUE. G.V. Plekhanov. The price of the issue. What will happen to the prices of the main types of food in the country worries most of the population. In Russia, one third of household expenditures in the consumption structure goes to food. For comparison: in the USA this figure is 6.4%, in Canada - 9.1%, in Germany - 10.7%. At the same time, the average cost of food production over the past 10 years has almost doubled, which in general determines the general trend in food prices in the country. Food inflation remains at 8%. Prices for the most commonly consumed products (carrots, cabbage, sunflower oil, chicken, cereals, milk) are rising more noticeably. So, over the year, carrots more ...

Source: Oilworld