January 23, 2025 | 04:38 GMT +7

  • Click to copy
Thursday- 09:44, 21/11/2024

Fruit and vegetable prices surge in Russia, driving inflation

(VAN) Analysts at EastFruit have observed that fruits and vegetables are contributing to inflation in Russia, despite the government's efforts to combat it through fiscal policies and an increase in the key interest rate to 21%.
Overall, the prices of all fruit and vegetable categories in Russia have risen, with expectations of setting new records in the winter-spring period.

Overall, the prices of all fruit and vegetable categories in Russia have risen, with expectations of setting new records in the winter-spring period.

EastFruit's weekly price monitoring indicates that the prices for primary fruits and vegetables are at an all-time high, despite fully stocked storage facilities.

Cucumbers have seen the most significant price increase, nearly tripling over the past year. The current wholesale price is 2.8 times higher than the same period last year. Historically, cucumber prices peak in February. Last season, prices in February were 3.3 times higher than in mid-November. There's a possibility that cucumber prices could reach 500 rubles per kilogram if the current trends continue.

Potatoes have also seen a substantial price increase, with an average rise of 2.5 times over the past year. Over the last month and a half, prices have surged by 60%, indicating a shortage. Prices are expected to continue rising until the New Year, with a potential 50% increase by spring, which translates to a 4.2-fold increase over the year. This situation presents an opportunity for suppliers from Egypt willing to navigate the Russian market.

Mandarins, essential during the autumn-winter season, have doubled in wholesale price over the year. Despite the devaluation of the Turkish lira, a sharp price increase is not anticipated. However, inflation could drive prices up further.

Apples have increased by 40% in price over the year. A high percentage of the local apple harvest is substandard and not suitable for storage, which currently dominates the market and influences prices. With the onset of stable cold weather, these apples will disappear from the market, potentially leading to a sharp price increase. Import restrictions from most developed exporting countries, along with blocked access to affordable apples from Belarus and Kazakhstan, suggest that prices will continue to rise.

Overall, the prices of all fruit and vegetable categories in Russia have risen, with expectations of setting new records in the winter-spring period.

H.D

freshplaza

Corn, soybean futures rally on USDA data

Corn, soybean futures rally on USDA data

(VAN) Bringing the bulls to market was the USDA’s downward revision of 2024-25 forecasts for US corn and soybean carryover, production and yields.

Cinnamon leaves have become an export commodity to India

Cinnamon leaves have become an export commodity to India

(VAN) A cooperative has processed cinnamon leaves for export to India, creating regular employment for dozens of workers who have a stable income from this byproduct.

Wood and wood products exports set a new record

Wood and wood products exports set a new record

(VAN) Wood and wood products exports in 2024 have surpassed the record set in 2022, establishing a new milestone in export revenue.

USDA raises soybean oil exports for a third time

USDA raises soybean oil exports for a third time

(VAN) The US Department of Agriculture seems to have had a difficult time projecting US soybean oil exports for this marketing year.

U.S. egg industry sees record chicken deaths from bird flu outbreak

U.S. egg industry sees record chicken deaths from bird flu outbreak

(VAN) Data from the USDA shows more than 20 million egg-laying chickens in the U.S. died last quarter because of bird flu.

The first farm in Dak Nong exports vegetables to Singapore

The first farm in Dak Nong exports vegetables to Singapore

(VAN) DNo Farm is the first entity to cultivate vegetables and fruits that meet GlobalGAP standards, and it is also the first and only entity in Dak Nong to export these products to Singapore.

Will USDA data dump spoil the bullish party for corn?

Will USDA data dump spoil the bullish party for corn?

(VAN) If anything can derail a price rally, it is a curveball from the U.S. Department of Agriculture.

Read more