Russia moves to curb soaring potato prices amid scarcity
The Russian State Duma plans to "regulate" potato prices, which in 2024 alone increased by 92 per cent. This year, they have risen by another 24 per cent, reports "Komsomolskaya Pravda." - Potatoes should not be a luxury; their price should be stable - assessed Duma Deputy Chairman Boris Chernyshov.
Chernyshov has already appealed to the Ministry of Economic Development to introduce state regulation of potato prices.
- The price of potatoes affects the wallets of a large number of Russians. For many people, especially those with not very high incomes, this product is a staple of their diet, and the increase in its price certainly poses a threat to them. Potatoes should not be a luxury; their price should be stable and not subject to large fluctuations. We cannot allow speculators to profit from this. Therefore, to avoid even greater price increases, we consider it necessary to introduce a temporary restriction. This will protect our citizens - the politician assessed in a conversation with "Komsomolskaya Pravda."
He also added that "domestic producers should not suffer, but our citizens are the most important." According to regulations, food price restrictions can be introduced for 90 days. The Potato Association hopes that the regulations will come into force before the harvest.
There is a shortage of potatoes in Russia
Russian media emphasise that potatoes are a national product that "has become a rarity." Only potatoes with a diameter of at least 5 centimetres are supposed to make it to store shelves. Such vegetables "are already scarce," it reads. The Potato Association announces that potatoes of smaller sizes can be delivered to stores.
It was also added that the potato crisis was partly due to a very successful harvest in 2023, when so many potatoes were harvested that there was nowhere to store them. Despite this, more vegetables were continuously imported.
In 2023, we had a record harvest, there were a lot of potatoes, which affected the price; farms lost profitability and many decided to switch to other products - assessed Tatiana Gubina from the Potato Association.
Other factors affecting the national Russian vegetable include poor weather and the cultivation of potatoes for processing, not retail sale.
"Processors offer stable contracts with set volumes, prices, and shipping periods, which serve as additional motivation for agricultural producers. As a result, fewer potatoes end up in stores," reports "Komsomolskaya Pravda."
The publication did not mention the high inflation that also impacts potato prices. According to data from state agency Rosstat from 2022 to 2024, prices of various products increased by a total of 31.7 per cent, and in 2024 alone, inflation was 9.5 per cent. Food products, in particular, have increased rapidly, significantly burdening household budgets. In the second half of January, Russia allowed duty-free potato imports. The regulations are in effect until the end of July.
