Russia: The average markup on potatoes in retail chains exceeds 100%, reports Rusprodsoyuz

The average markup on potatoes in Russian retail chains exceeds 100%. This was reported to TASS by Dmitry Leonov, deputy chairman of the board of the Rusprodsoyuz association. "The average markup exceeds 100%," he said. According to the association, wholesale prices for potatoes have increased by 2.6 times since the beginning of 2024 and currently amount to 26.1 rubles per kg, while retail prices have increased by 1.8 times, to 52.5 rubles per kg. "There are several reasons for the growth: a record harvest and a low base last year, when producers' selling prices actually coincided with the cost price against the backdrop of rising costs of loans, fuel, logistics, labor, purchase and maintenance of special equipment (combines, cultivators, etc.)," Leonov said. The expert noted that the low profitability of potato cultivation last year resulted in a reduction of sown areas by 20 thousand hectares in the current season. "Potato prices were low from September last year until mid-May. ...