The Russian market is keeping its potato price reduction trend thanks to growth of potato supply in the country, according to the Fruit-Inform Project.
As of yesterday (Aug 30), prices for potatoes are 2.5 times lower than a year before and may most likely decrease further.
"Expansion of areas under potatoes against a background of last season's high prices and relatively good weather conditions favor Russia's high potato production this year", Tetiana Getman, Head of Fruit-Inform Project, said.
"Therefore we forecast Russia's potato imports to decrease sharply in the season 2011/12, and potato prices to be low within the whole season", the expert continues.
It should also be noted that current wholesale prices for potatoes in Russia (even in RUB equivalent) are the lowest in last 4 seasons that cannot help but upset farmers, as, according to Fruit-Inform Project's estimates, potato production costs grew by almost 50% in this period. Furthermore, current prices in USD equivalent are the lowest in last 7 years.