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Friday, June 23, 2017

The Bank of Russia said about the risk of “potato” inflation


The rising price of potatoes at the end of 2016 could trigger food inflation, the most recent issue of “what do the trends”, presented by the Bank of Russia. According to its authors, this year potato production in Russia will decline by 2.2 per cent towards 2015 and adverse weather conditions will have a negative impact on its quality, writes “Rossiyskaya Gazeta”.

As a result, most of the potatoes will be sold “from the field”, that is, immediately after collection. At this time the supply will increase and prices will drop. However, by the end of the year stocks of stored potatoes will decrease, and with stable demand and with the cost of storage will sell at high prices, stated in the newsletter.

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