Russian potato producer prices have slipped by about 23.5 percent since the year began, according to a report cited by TASS and based on statements from the press service of Russia’s Ministry of Agriculture.
Data from the Ministry of Agriculture show that as of August 9, potato prices in Russia were 23.5% lower than in the same period in 2022. Butter prices fell by 1.8 percent and sunflower oil by 13.8 percent. Yet the ministry also notes a seasonal rise in meat prices, despite the broad price declines in other staples.
Midweek remarks from Dmitry Patrushev, head of the Ministry of Agriculture, indicated that meat product prices are expected to ease sharply in the near term.
Analysts warn that unusually hot weather across the country could blunt further price declines for agricultural goods. Arkady Zlochevsky, president of the Russian Grain Union, told the Parliamentary Newspaper that a repeat of last year’s record grain harvest should not be counted on. While 2022 saw around 157 million tons of grain harvested, projections for this year look closer to 130 to 140 million tons, with corn yields also expected to fall rather than rise.
Andrey Kazakov, executive director of the National Fruit and Vegetable Association, noted that extreme temperatures are likely to impact vegetable yields as well, including potatoes and sugar beets, which could offset some of the downward pressure on prices.
At the same time, observers point to ongoing uncertainties around the grain deal and its beneficiaries, underscoring how shifts in export policy and weather can ripple through prices across key farm products.