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Expert opinion: Russia will not be affected by the global trend towards higher food prices.

Expert opinion: Russia will not be affected by the global trend towards higher food prices.

Due to the COVID-19 pandemic, the oil war and other shocks of the first 5 months of 2020, the world expert community predicts a significant increase in food prices and even hunger in some countries. So the food and agriculture organization of the United Nations (FAO) reported that in June world prices for food commodities rose for the first time since the beginning of the year. Can this affect Russia?


According to Rosstat in Russia consumer prices for food increased by 0.1% compared to the previous month while in the EU - by 0.3%. In total, since the beginning of 2020 the increase in food prices in Russia has increased by 5.0%.

Russian experts believe that Russia is not in danger of a noticeable increase in food prices. But seasonal price fluctuations are not excluded. Maxim Nikitochkin, senior manager of the group for the provision of services to the enterprises of the agro-industrial complex of EY, in an interview with Agroinvester described the situation in the Russian food market: "I do not expect food prices to rise in the near future in Russia. Of course, there may be some speculative phenomena (for example, very good weather, rising demand for meat due to the kebab season) or climatic (severe drought or heavy rains that will radically reduce the yield of any niche crop. " According to Rosstat, these statements are confirmed, as the department reports that during the reporting period, chicken meat rose significantly - by 0.6%. At the same time, in seven regions of Russia, the increase was 2%, and in the Lipetsk and Kirov regions - 2.7%. According to Dmitry Rylko, Director General of the Institute for Agricultural Market Research (ICAR), if you look at the dynamics, then chicken meat has been falling in price for some time but now thanks to the gradual resumption of catering and the kebab season prices have begun to rise. The same seasonal increase in prices is characteristic of apples, potatoes and other products that have a long shelf life. By the time they harves they should be much cheaper.

дата публикации: 06 Июля 2020 г.

отредактировано: 11 Июля 2020 г.

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