The Ministry of Agriculture saw no reason for the increase in rice prices in Russia this season.

MOSCOW, March 21 – RIA Novosti. The Ministry of Agriculture of the Russian Federation told reporters that there is no reason for the increase in prices of rice and rice groats in Russia this season, and the current export ban guarantees the supply of the domestic market.

Earlier on Tuesday, Kommersant newspaper, citing a source among suppliers, reported that the price of rice groats in Russia could increase by 10-30% due to the decline in raw material quality due to adverse weather conditions in the Krasnodar Territory. Rice is mostly grown in the country. According to the source, rice groats producers have already reported the price increase to their retail chains.

They explained that the quality of rice and the volume of the 2022 crop “fully meet the needs of Russian processing enterprises.” Rice groats production in Russia increased by 2.6% last year. “According to the results of monitoring, analysis and evaluation of the volume of consumer properties of 867.1 thousand tons of rice studied, about 96.11% of rice corresponds to class 1-3, only 3.89% does not comply with GOST.” said the Ministry of Agriculture.

“Prices of raw materials and retail prices of grains in retail chains are currently stable (-1.9% since the beginning of the year as of March 13, 2023, according to Rosstat. Remember this until the end of the first half of the year. Rice and rice in Russia in 2023 There is a ban on the export of groats, which guarantees the supply of the domestic market with such products.”

At the end of December last year, the Russian government extended the temporary ban on rice exports for six months, until June 30, 2023. The ban at that time had been in effect since July 1 last year, due to an accident at the Fedorovsky hydroelectric complex in the Kuban. It was introduced to eliminate scarcity risks and provide stable prices for final products for consumers.