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Difficulties with the rice harvest in the Krasnodar Territory due to an accident at the Fedorovsky hydroelectric complex in 2022 could lead to a price increase of 10-30%, writes Kommersant.
Retailers are not raising prices due to demand risks, and experts report that the rice harvest is sufficient for the Russian market. Lenta informed of the receipt of notifications of price increases of 15-30%. The publication’s source in another network reported a price increase from March 27 of 8-19%.
Rising Russian rice prices could lead to lower demand and a switch to cheaper buckwheat, experts say.
The accident at the Fedorovsky hydroelectric complex in the Krasnodar Territory led to a reduction in the area of paddy fields from 119,000 to 92,000 hectares, and the gross rice harvest fell by 24% to 650,000 tons.
