Suppliers warn of 30% rise in price of rice due to crop failure in Russia
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“Kommersant”citing its own sources, said that problems with the harvest, which occurred in the Krasnodar Territory last year, could lead to an increase in rice prices from 10% to 30%.
It is specified that manufacturers have notified retail chains of a possible increase in the price of rice cereals. At the same time, due to unfavorable weather conditions in the Krasnodar Territory, where the bulk of rice is grown in Russia, the quality of raw materials suffered. In turn, a large percentage of rice culling leads to an increase in the cost of cereals.
Some market participants have already confirmed that they have received a notification from suppliers. According to some suppliers, the rise in prices for rice will be 15-30%, according to others – 8-19%.
We add that the rise in prices for rice may provoke a decrease in demand and a shift in attention to buckwheat.
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