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Wholesale prices for buckwheat decreased in Russia

Buckwheat
Russia
Published May 28, 2022

Original content

For two months by May 20, wholesale prices for buckwheat groats decreased by 13% to 81.32 thousand rubles. per ton, compared the Institute for Agricultural Market Studies (IKAR). At the end of March, the cost of buckwheat was 93.25 thousand rubles. per ton. Now the price roughly corresponds to the level of November 2021 and is 23.1% higher than the price of cereals a year earlier. The main reason for the drop in wholesale prices was a decrease in demand after bulk purchases for future use in March. Deputy General Director of IKAR Irina Glazunova told Agroinvestor that the current season is characterized by high production of buckwheat. For seven months of the 2021/22 season, it was the highest compared to the same periods of the previous three seasons. In March, the output reached 57,000 tons. “There has never been so much buckwheat produced in one month,” Glazunova noted. At the same time, exports declined. “Thus, the supply of this cereal meets the needs of the Russian market ...
Source: AgroInvestor
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