There won’t be a major hike of grain prices

Monday, January 25, 2021

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There won’t be a major hike of grain prices, Agriculture Minister Alexei Gordeyev told President Vladimir Putin on Tuesday. “We are capable of stabilizing the grain prices,” he said. “The harvesting has just begun, and 17 million tonnes of grain have been collected on 5.7 million hectares. That was 5 million tonnes more than a year before,” he said. “We have assessed the condition of grain crops and realized that we have plenty of resources. There are no pressing problems as yet,” Gordeyev said. “I assume we will have no grain deficit,” the president said. The minister replied that Russia will even have ten million tonnes of grain for exports and 1.5 million tonnes of grain reserves. A tendency of higher grain prices has recently occurred on the international market, and Russia is part of that market, Gordeyev said. At the same time, there are mechanisms to prevent a growth of grain prices on the domestic market. The president voiced hope for a correct use of those mechanisms.

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