Support The Moscow Times!

Prices For Most Staples in Russia Have Spiraled Since Food Embargo, KPMG Says

Butter, fish and cabbage have seen the biggest rises.

Consumers are paying the price for product substitution. Moskva News Agency

Five years after the introduction of Russia’s embargo on imported food products, prices for some staples have soared, according to a report from accounting giant KPMG commissioned by the RBC news website.

The price of butter has risen by 79% since 2014, while frozen fish is up by 68% and white cabbage 62%. Even commodities which were already being produced in large volumes in Russia have risen, with wheat flour up 25%, pasta 34% and sunflower oil 35%. 

Russia introduced the embargo on a wide range of imports from the EU and other countries in 2014 in retaliation for international sanctions over Moscow's role in the Ukraine crisis.

The price increases have been caused by the reliance of Russian producers on foreign suppliers for equipment, livestock feed and agricultural materials, KPMG’s research showed. Sanctions are also contributing to the problem.

The report said that food security in Russia has declined since the introduction of the embargo in terms of the availability of products, and that consumers are paying the price for substitution as both imported and locally produced products have become more expensive. 

Potatoes are the only staple not to have increased in price since 2014.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more