We are witnessing an unprecedented increase in the cost of products now – Sergey Mikhailov

‘I have been working for more than twenty years, I have seen different situations. However, this is the first time. It is easier for me to say that our prices are not growing. The last thing left is gas and electricity tariffs, they are regulated by the state,’ he said.

The expert noted that packaging has risen in price by 30-50%. Grain cost 10-12 rubles per kg a year or two ago, now it is 16-17 rubles. Soybean meal and soy showed a twofold increase, lysine, vitamins rose in price from 20% to 40%.

‘As for oil, palm oil has broken all records. One can list further, systemic growth is going on throughout the production chain. We have been watching this steadily for the last three quarters, at least. It is not possible to stabilize the situation yet,’ Sergei Mikhailov added. ‘We no longer hope that something will become cheaper, we hope that at least it will not grow further. If earlier any rise was followed by a correction and a fall, now this does not happen. However, this is global situation, and our situation is part of this big chain.

Earlier we reported that the increase in food prices is due, among other things, to objective processes that must be taken for granted. Press secretary of the President of Russia Dmitry Peskov stated this on Monday, October 25.