The Ministry of Agriculture does not expect a significant increase in food prices before the New Year
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The Russian Ministry of Agriculture does not expect a significant increase in prices on the food market before the New Year holidays. Today, November 26, manufacturers predicted beef prices increase by up to 10% by the New Year.
“By the New Year holidays, the food market traditionally experiences an increase in retail prices, which is associated with an increase in demand for food,” the department’s press service reported. “RIA News”.
Commenting on the possible rise in price of beef, the Ministry of Agriculture stated that “the increase in production contributes to a stable price situation in this market.” According to Rosstat, in January-October 2023, the production of cattle for slaughter increased by 7.6%, to 890 thousand tons. The retail price increased by 6.7% – “within the limits of general inflation.”
Today, the general director of the National Union of Producers, Roman Kostyuk, said that by the New Year, beef prices will increase by 7-10%. Among the reasons, he pointed to a stable drop in production, a pre-holiday rise in prices, and increased costs. The head of the Russian Consumer Union, Pyotr Shelishch, agreeing with the forecast of a rise in beef prices, called the rate of price growth “not prohibitive.”
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