Market participants warned of rice deficiency in Russia

Due to rains in the Krasnodar Territory and low prices of Russia, a shortage of rice threatens, Kommersant writes with reference to market participants.

The southern rice union (JURS) evaluates the remains of cereals on January 10, 2017 at 262 thousand tons compared with 321 thousand tons a year ago.

Before the new harvest in September 2017, Russia needs approximately 300-330 thousand tons of rice sneakers for domestic consumption, calculated in the JURS.

As the president of the Russian grain Union Arkady Zlochevsky said, last season the price of rice remained at the level of 30 thousand rubles per ton, in which the price dropped to 25–26 thousand rubles.

According to experts surveyed by Kommersant, a profitable business can be considered at an internal price of 34 thousand rubles per ton of rice.

Due to low domestic prices, companies increase exports, Kommersant told one of the large rice manufacturers. According to the Analytical Center “SOECON”, from July to November 2016, 50 thousand tons of rice were imported to Russia, 74 thousand tons were sent for export.

The press service of the Ministry of Agriculture for the newspaper said that they did not see the grounds for rice deficit.