Russia: Potato prices reach record highs

Meanwhile, wholesale prices have appreciated by 85% this year, reaching levels that are four times those of spring 2024 and reaching historic highs.

Retailers sell the tuber with a profit margin of just 2 rubles ($0.02) per kilogram on average, according to Stanislav Bogdanov, president of the Russian Retail Association.

Food prices are rising due to reduced supply, a lack of storage facilities, energy costs, and increased demand, explains Dmitri Vostrikov, executive director of Rusprodsoyuz, an association of agricultural producers and exporters.

However, other sources point to poor production and worse harvests due to bad weather as the main causes.

As shown in statistics from the official Rosstat agency, the potato harvest in Russia in 2024 amounted to approximately 17.8 million tons, 11.9% less than the previous year. This is the opposite of the 2023 record harvest, which led to lower prices.

This meant that two years ago, producers’ sales prices did not always cover their costs, so they decided to reduce their planting areas, which decreased by 10.8% in 2024, while it is estimated that they will increase by 2.3% in 2025.

Adding to the growing concern for the upcoming season is this year’s late harvest, which is expected to be delayed due to the recent frosts in May, a fact that also creates uncertainty in the agricultural market.

At the moment, local produce is out of stock, and potatoes for retail sale come mainly from Egypt, Pakistan, and China, whereas under normal conditions at this time of year, these imported products occupy between 30% and 40% of supermarket shelves.

In the face of rising prices, consumers are also expected to shift their demand to other products, such as buckwheat, which is very popular in Russia and whose cost this year fell by 6.6% to 78.4 rubles ($0.97) per kilogram.

The potato is a key and traditional element of Russian gastronomy and culture, and has always been known for being an accessible food throughout the country.