As Russia's “Kommersant” quoted agricultural consulting firm SoveCon, food prices in Russia fell to their lowest level since May 2024 due to the suspension of operation of all three grain terminals in Novorossiysk. In the week of August 10-16, third-grade wheat fell 2.8% month-on-month to 11,500 rubles/ton; fourth-grade wheat fell 3.1% month-on-month to 11,000 rubles/ton. According to SoveCon data, the price of fourth grade wheat fell 24% year over year. Andrey Sizov, head of SoveCon, believes that the drop in food prices last week stemmed from the market's reaction to the closure of the Novorossiysk terminal and weakening exports.

As Russia's “Kommersant” quoted agricultural consulting firm SoveCon, food prices in Russia fell to their lowest level since May 2024 due to the suspension of operation of all three grain terminals in Novorossiysk. In the week of August 10-16, third-grade wheat fell 2.8% month-on-month to 11,500 rubles/ton; fourth-grade wheat fell 3.1% month-on-month to 11,000 rubles/ton. According to SoveCon data, the price of fourth grade wheat fell 24% year over year. Andrey Sizov, head of SoveCon, believes that the drop in food prices last week stemmed from the market's reaction to the closure of the Novorossiysk terminal and weakening exports.