News

Russia: The cost of domestic seeds has not increased significantly after the introduction of import quotas

Nuts & Seeds
Russia
Regulation & Compliances
Market & Price Trends
Published Feb 17, 2024

Tridge summary

The National Seed Alliance (NSA) in Russia has reported that the cost of domestic seeds has not significantly increased despite the introduction of a quota on seed imports. While the price of foreign seeds has risen by 20-40%, domestic seeds are still 2-2.5 times cheaper. The quota, in place until year-end, was introduced due to increased domestic production of crops like corn and sunflower. The NSA suggests that Russia could be self-sufficient in corn seeds and assures that foreign seeds will still be available in the country despite the quota.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The National Seed Alliance (NSA) does not note a significant increase in the cost of domestic seeds after the introduction of a quota on the import of imported seed into Russia. Farmers will be fully provided for, says Igor Lobach, Chairman of the Association Council. “As for seed prices, we do not notice a significant increase in prices. According to our data, for corn, domestic seeds are practically unchanged, while foreign seeds have increased by about 20-40%,” he said. Lobach noted that the price for sunflower has risen slightly, but Russian seeds in general are 2-2.5 times cheaper than imported ones. He emphasized that the alliance’s specialists are constantly monitoring the situation with leftover corn and sunflower seeds, as well as the prevailing pricing policy on the market. “We see that sales of sunflower seeds are quite active, and foreign companies today use the practice of selling corn seeds in addition to sunflower seeds. Our companies also started to act,” the ...
Source: Oilworld
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