Banana prices in Russia hit a five-year high

Prices for bananas in Russian stores over the past six months have grown to their maximum since 2016, RBC reports, citing Rosstat data. Association “Rusprodsoyuz” expects a decline in prices in the near future.

In February, 1 kg of bananas rose to 86.7 rubles, which is 9% more than January prices and 15% higher than in February 2020. Prices reached their peak values ​​in April – then bananas cost 89.3 rubles. per kg. In June, prices fell to RUB 84.1, the highest since 2013 in June. According to the research company GfK, cited by RBC, in May 1 kg of bananas at retail cost an average of 77 rubles. This is 10% more than a year earlier.

GfK analysis was carried out on the basis of tracked purchases of 10 thousand households throughout Russia.

Dmitry Leonov, deputy chairman of the board of Rusprodsoyuz, told TASS that, in particular, the poor harvest in Ecuador, logistics difficulties and high demand led to the rise in prices. “Due to the wholesale dynamics and the increase in the supply of seasonal fruits, we can expect a decline in prices for bananas in the near future,” he said. According to the Association of Retail Companies, the weighted average retail price for bananas in the largest retail chains last week amounted to 61.3 rubles. per kg.

In February, Kommersant reported that Russian retail chains encountered difficulties in purchasing bananas. The poor harvest in Ecuador, strong demand, and delays in supply led to a shortage of bananas and an increase in wholesale prices by almost 40%. Market participants expected the situation to normalize by April.

In June, during a direct line, Vladimir Putin was complained that Ecuadorian bananas are more expensive in Russia than vegetables. The President responded that the rise in food prices is a “global trend” and expressed the hope that prices will decline as the new harvest arrives.

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