Prices for oats and oat flakes in the Russian Federation have reached new historical highs

Published Aug 26, 2020

Tridge summary

Record prices for oats and oat flakes have been set due to a combination of factors including a reduction in oat sowing and unfavorable weather conditions, particularly in Siberia, which is a major production region. As a result, the area planted with oats has decreased, leading to an expected gross harvest of 3.9 million tons, down from 4.4 million tons in 2019. Additionally, the quality of the cereal-grade oats is expected to decrease significantly. Prices for oat flakes have also reached new highs, with significant fluctuations noted between March and May of this year. Producers of oat groats and flakes are expected to face high prices due to competition for quality oats.

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

Original content

Prices for oats and oat flakes set new records, it follows from the monitoring of the Institute for Agricultural Market Studies (IKAR). Irina Glazunova, Deputy Director General of IKAR, told Interfax that prices for food oats at the beginning of the new agricultural year (July 2020-June 2021) started from high values - 9.9 thousand rubles per ton against 5.9 thousand rubles in July last year (data for the Altai Territory). "In August, they reached new historical highs and now range from 10.5 to 12 thousand rubles per ton, depending on the quality," she said. In August last year, a ton of food oats cost 5.867 thousand rubles. Glazunova believes that the reason for this growth is the next, third in a row, reduction in oat sowing, as well as in extremely unfavorable weather conditions in the regions that are its largest producers, primarily in Siberia. "This macro-region traditionally accounts for about 40% of oat production in the country," she said. This year, oats were planted on ...

Source: Zol