Potato prices in Russia have risen to 84.7 rubles per kilogram, the highest level in the last 23 years. Over the past year, the price has surged by 173%, setting a new historical record. The main reasons for this are the complete depletion of stocks and a poor harvest in 2024, which has prompted the import of potatoes from Egypt, Pakistan, and China.
This is reported by Finway
By the end of April, the average retail price for a kilogram of potatoes was 84.7 rubles, which is 49% higher compared to the beginning of the year and 173% higher than in the same period last year. This is the largest annual increase since 2002, when Russian statistics began publishing data. The previous record of 129.3% growth was recorded in 2011, but the situation now is much more serious.
Reasons for Price Increases
The most rapid increase in potato prices is observed in the wholesale segment: prices for retailers have jumped by 85.2% since the beginning of the year, and on an annual basis, they have skyrocketed by an incredible 340%. The reason for this price spike is the complete depletion of domestic potato stocks due to a low harvest in 2024. Major production regions have suffered from extreme weather conditions, including spring frosts and prolonged drought, leading to a decrease in the gross harvest by 1.2 million tons (to 7.3 million tons).
Potato Imports and Government Regulation
In response to the risk of shortages and social tension, the government has allowed duty-free imports of potatoes from “friendly countries” starting in January 2025, including Egypt, Pakistan, and China. Retail representatives, such as “Lenta” and X5 Retail Group, confirm that imported potatoes dominate supermarket shelves. However, this does not solve the problem at its core.
Consumers are forced to spend more on basic products, intensifying financial pressure on millions of households. State Duma Vice-Speaker Boris Chernyshov even suggested temporarily introducing government regulation of retail potato prices, emphasizing that for many Russians, potatoes are considered a “second bread.” Government forecasts for 2025 anticipate a 2.3% increase in potato planting area (to 286.3 thousand hectares), but experts warn that spring frosts could delay the start of the harvest, again creating risks for market stability.