Will buckwheat and oatmeal become more expensive in Russia?

Published Oct 25, 2021

Tridge summary

The article highlights the increase in the cultivation and harvest of buckwheat in Russia, with a 12.1% rise in sown areas and a 22,000-ton increase in harvest compared to the previous year, as reported by the Ministry of Agriculture. Despite these positive figures, producers are contemplating raising the prices for buckwheat, oatmeal, and cereals by 10-20% due to significant cost increases in packaging, raw materials, and production inputs. The final prices consumers pay for these cereals are amid concerns, with the market experiencing price fluctuations influenced by factors such as export activities, logistical challenges, and weather conditions. The government of the Altai Territory recently noted a decrease in buckwheat prices following a period of increased humidity that led to higher moisture content in grains and increased drying costs.

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

Original content

According to the Ministry of Agriculture, the production volumes of cereal crops, in particular, buckwheat, cover the demand of enterprises and fully meet the needs of the domestic market. So, according to the ministry, this year 975.9 thousand hectares were sown for buckwheat, which is 12.1% more than last year. By October 22, 837.5 thousand tons of harvest have already been harvested, which is also more than last year's figures by 22 thousand tons. The Ministry of Agriculture announced this amid news that producers intend to raise prices for buckwheat, oatmeal and cereals by 10-20% in November. The companies complained that the price of polypropylene and cardboard containers for twelve months increased by 100% or more, while the price of Russian raw materials rose by 30%. According to Rosstat, in August, buckwheat cost an average of 102.5 rubles per kilogram, oatmeal and pearl barley - 45.2 rubles, and Hercules flakes - 80.4 rubles. In September, prices for buckwheat in stores ...

Source: RG