Russia to Build on Grain Stock to Contain Bread Prices

UrBC, Yekaterinburg, December 4, 2018. Together with the heads of respective ministries and federal constituencies’ governments, Russian Vice Premier Alexei Gordeyev is going to coordinate the process of building up on grain stock to make sure the food prices stay optimal and to contain the bread market fluctuations.

According to Kommersant, all orders to this effect will get issued following the recent meeting with the President of Russian Bakers’ Union Valeriy Cheshinsky. The meeting in question dwelled on the ‘ways to provide the Russian grain processing companies with quality bread-grain’ and on the current market situation.

Cheshinsky said the latest increase in grain and flour prices was to be expected. Because of these growing wheat and flour prices, the country’s bread making businesses have been negotiating a selling price increase with the retail chains. Whereas the price of bread only rose by 2.3% for the compared with early January, the current increase might reach as much as 8% to 12%.

UrBC reported earlier that the bread-makers’ selling bread prices went up in November 2018; for one, Krestyansky pan bread made from Grade I wheat flour will grow 11% more expensive on December 3, 2018.

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