Russia limits potato imports to sell local production

Russia is grappling with a unique challenge in the agricultural sector, as it faces record potato stocks following a successful harvest of 18.7 million tons in 2022, marking a 4.3% increase from the previous year. This surplus, coupled with a significant drop in wholesale prices by 37.3% since the start of the year, has led to concerns for both farmers and consumers. The price decrease has been more drastic than anticipated, prompting Rusprodsoyuz, a food manufacturers and suppliers association, to warn of potential negative impacts on the upcoming harvest. The association is advocating for temporary import restrictions to stimulate domestic demand and prevent a decrease in sowing and production volumes. This situation underscores the complexities of managing agricultural markets, especially when faced with significant fluctuations in supply and demand.