Asia, India, China, Middle East, Trade/Markets/Prices, Trends

Russian producers concerned about low potato prices

According to the EastFruit daily monitoring project the price of potatoes in the Russian Federation has dropped by an average of 20% since the beginning of last week alone.

At the moment, quality products are going on sale for 8-12 rubles / kg ($ 0.12-0.18 / kg) depending on the variety and region, and growers acknowledge that prices higher than 10 rubles / kg ($ 0.15 / kg) are quite rare.

The reason for such low prices is market oversupply, triggered by another increase in the country’s total potato production. Many small farms have already started to sell potatoes from storage given the rapid deterioration in product quality.

At the same time, cheap substandard and small potatoes make up a significant share of the supply, which also puts pressure on the price of quality products. Substandard potatoes from the main producing regions are ready to be shipped for 6-7 rubles / kg ($ 0.09-0.11 / kg) in some cases, with the price falling as low as 5 rubles / kg ($ 0.075 / kg).

Given this situation, a number of farms have decided to abandon sales in anticipation of likely improvements in the market situation.

It is worth noting that at the moment potato prices in Russia are on average 20% lower than in the first half of December 2017.

Report by FreshPlaza

Editor & Publisher: Lukie Pieterse

 

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