Date 2023-11-20 00:00:00

Russian milk settlement significantly below EU level

The official milk settlement in Russia remains 11.3 euro cents below the EU average, according to the Dairy Industry Newsletter.

As is known, the Russian economy lives in its own world in the wake of the war on Ukraine and the many sanctions imposed by the West. The latest settlement prices in the Dairy Index produced by Russia Dairy News show milk prices at 31.55 rubles/kg (DKK 2.39). This is a decrease of 10.5 percent since November 2022. Compared to the EU Milk Market Observatory data for October 2023, the Russian settlement is 11.3 euro cents per kg (DKK 0.85) lower than the EU average. This information is provided by the Dairy Industry Newsletter (dairy industry information media), which also notes that inflation in Russia is rising again according to the new RosStat data, noting large fluctuations month by month. In April 2022, inflation was 17.8 percent, falling to 11 percent in February this year, whereas May showed a 2.4 percent inflation. October again saw an increase of 6.7 percent.