Russia's Ministry of Agriculture assessed the risks of a rise in price of rice

Rice

Russia

Published Mar 21, 2023

Tridge summary

Last year's harvest is sufficient for processing enterprises. Over the past year, the production of rice groats in Russia increased by 2.6%. The quality also meets the required parameters. According to the results of monitoring, analysis and assessment of the volume of consumer properties of rice, out of the surveyed 867.1 thousand tons, about 96.11% of rice corresponds to class 1-3, only 3.89% does not comply with GOST. At the same time, raw material prices are stable, as are retail prices for cereals in retail chains. According to Rosstat, since the beginning of the year by mid-March, rice has fallen in price by 1.9%. In addition, until the end of the first half of 2023, Russia has a ban on the export of rice and rice cereals. This ensures that the country's needs for rice will be met, according to the Ministry of Agriculture. Given the ban on the export of rice, it is enough for the domestic market, Mikhail Radchenko, executive director of the National Rice Union, agrees. At the same time, despite the late harvest of rice in 2022, processors are satisfied with the quality of raw materials.

Original content

Now producer prices are stable and there are no prerequisites for their growth, Radchenko assures. Moreover, according to the forecasts of the union, in the coming week there will be a decrease in wholesale prices for rice. Stocks of rice turned out to be more than autumn forecasts. This year, it is predicted that the area under ...

Source: RG