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Since the beginning of November, the ruble has lost more than 10% of its purchasing power against the dollar and the euro due to the tightening of US financial sanctions that hit fifty Russian banks, including Gazprombank .
The Russian newspaper writes about the fact that this fall has forced fruit and vegetable imports from states declared “friendly” by the Kremlin to cancel contracts Times of Moscow with reference to a specific publication Product of the East.
“According to analysts, the situation is critical for Russian importers, the ruble fell literally in one day, which reduces their willingness to continue with regular deliveries of fruits and vegetables,” wrote East Fruit .
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Europe
The exchange rates rose to 114 rubles to one dollar and 120 rubles to one euro on Wednesday. They were last at that point in March 2022, shortly after Russia’s invasion of neighboring Ukraine. Since the beginning of August, the ruble has weakened by a total of 25%. This accelerated inflation on imported goods, including fruit and vegetables.
The price of potatoes has risen 78.4% since the beginning of the year
“There is no less panic in the fruit and vegetable market than in the banks. Local producers, those who have stock, are shaking their hands and expecting a big increase in the prices of their products. However, there are not many stocks in the warehouses because the harvest was not very good, as well as the quality of the produce,” said East Fruit, noting that most of the produce comes from abroad. fruits and vegetables on Russian shelves in winter.
Already now, according to the server, there is an obvious problem with the menu on the counters. “Local producers are keeping products in stock and waiting for prices to rise, and importers are no longer willing to supply fruit and vegetables at previously agreed prices,” the website said.
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Economic
According to Rosstat, on November 25, food inflation in Russia reached 10.2%, and prices of basic fruits and vegetables jumped by tens of percent. Since the beginning of the year, the price of potatoes has increased by 78.4%, cabbage by 30.7%, and beets by 27%. Tomatoes rose in price by 22.5% year on year, cucumbers by 40.8%, onions by 17%.
The Russian government is now considering eliminating taxes on the import of vegetables and fruits to reduce inflation. Imports of potatoes, onions, carrots, cabbage and apples should improve, Russia’s Ministry of Economic Development said this month.
In addition, Russia is facing a shortage of vegetables due to the frost in May, followed quickly by drought and heat, which affected the regions of Rostov, Astrakhan, Volgograd and Krasnodar. According to estimates, they lost 10 to 25% of the harvest.
However, the East Fruit server also noted that the demand for fruits and vegetables has decreased at the moment. “Many buyers are trying to spend the rapidly depreciating ruble on household appliances, cars and expensive durable goods,” he said.
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Europe
2024-11-28 09:38:00
#Russia #fall #ruble #panic #fruits #vegetables
* How does the falling value of the ruble, alongside decreasing harvests, contribute to the scarcity and rising prices of fruits and vegetables in Russia?
This article from Novinky.cz discusses the impact of the falling Russian ruble on the prices and availability of fruits and vegetables in Russia.
Here are some open-ended questions focusing on the key topics covered, designed to encourage discussion and different viewpoints:
**The Impact of the Falling Ruble:**
* How does a devaluation of the ruble contribute to inflation, specifically for imported goods like fruits and vegetables?
* What are the broader economic consequences for Russia of a weak currency?
* How might Russian consumers adjust their spending habits in response to higher food prices?
* What are some potential long-term consequences for Russia if its currency continues to decline?
**The Fruit & Vegetable Market:**
* How do the declining harvests due to weather conditions compound the problem of the falling ruble?
* What strategies might Russian farmers and importers adopt to minimize their losses in this situation?
* What role could government intervention, such as tax breaks on imports, play in stabilizing the fruit and vegetable market?
* What are the potential implications for food security in Russia if the situation persists or worsens?
**Consumer Behavior:**
* How might Russian consumers prioritize their spending in a context of rising food prices and economic uncertainty?
* Would you consider switching to cheaper, locally-produced alternatives if imported fruit and vegetables became too expensive?
* What are the limitations of proposals to spend the ruble on durable goods in this situation?
* Does the article suggest that the Russian government is doing enough to support its citizens during this economic crisis?
**Beyond Russia:**
* How might the decrease in fruit and vegetable exports from Russia impact other countries, especially those reliant on Russian imports?
* What are the broader implications of these economic challenges for Russia’s agricultural sector and its relationships with other nations?
* Could this situation lead to increased food shortages and price increases internationally?
By exploring these questions in a structured format, you can conduct a comprehensive and insightful interview about the complex situation unfolding in Russia’s food market.
