Russia Increases Buckwheat and Rice Production in H1 2024

Russia increased buckwheat production by 6.5% in the first half of 2024, reaching 272,000 tons compared to the same period last year. According to the Russian Federal Statistics Service (Rosstat), the production of semi-milled, wholly milled, husked, or broken rice also rose by 1.6% to 277,000 tons.

Buckwheat production reached 42,600 tons in June, up 6.4% year-over-year, while rice production decreased by 22.4% to 34,400 tons.

The production volume of flours made from grains, vegetables, and other plant materials, including their mixtures, reached 4.993 million tons in the first half of the year marking a 7.3% increase over the year. In June, production totaled 782,000 tons, a slight decrease of 0.3% year-over-year. This total includes rye flour production, which saw a 6.1% decline to 247.600 tons from January to June 2024, and a 13.3% drop to 40,200 tons in June.

According to Rosstat, in June 2024, the average manufacturer price per ton of flour was 22,316 rubles per ton, a 19% increase from the same month last year. Rye flour was priced at 16,129 rubles per ton, up 14.7%. The cost of dried peas soared to 29,051 rubles per ton, a 60.7% rise. Manufacturers also raised the price of semolina by 36.2%, bringing it to 28,762 rubles per ton in June 2024. In contrast, the prices for buckwheat and millet fell by 11.4% to 29,803 rubles per ton and by 2.2% to 24,615 rubles per ton, respectively.

Compound feed production in Russia increased by 4.4% to 18.18 million tons in the first half of the year. In June, it rose by 3% to 2.949 million tons. The average cost of compound pig feed increased by 5.6% in June, reaching 20,738 rubles per ton, while the price of compound feed for poultry went up by 7.3% to 25,114 rubles per ton.