Russian experts say soybeans, oil crops, and grains will lead the global agricultural market
By: Date: 2021-04-17 Categories: Internationalfood Tags: ,
Russia’s Oilworld website reported on April 12 that, according to the Russian National Rating Agency (HPA), the average annual price increase of global agricultural products in the next two years will be 3%-4%, of which soybeans, oil crops and grains are expected to increase the most, with increases of 20%respectively.%-30%, 6%-8%and 4%-7%.

  The main reasons for the increase in global agricultural product prices are:the decline in the supply of goods and services in the context of the epidemic, the increase in income of residents in developing countries, the increase in oil prices, the increase in expected inflation, the increasing use of agricultural products as biofuels, and the public The pursuit of a healthy life consumption pattern has led to changes in the production and consumption structure. The main reasons for the increase in the price of Russian agricultural products are:the decline in agricultural production (data from the Russian Federal Statistical Office shows that the production of poultry, eggs, sunflower oil, and flour in Russia from January to February 2021 decreased by 8%, 3%, 7%, and 12%respectively.%), the outbreak of avian influenza in southern Russia at the beginning of 2021, the increase in crop prices triggered the increase in feed prices, and the global increase in the prices of agricultural products.