Russia's Struggle to Balance Domestic Food Supply and Exports

The Russian government is prioritizing lowering domestic food prices amidst rising inflation and a spike in staple food costs like butter and eggs. Deputy Prime Minister Dmitry Patrushev warned of potential export restrictions if prices continue to rise. The situation is further exacerbated by a poor harvest and high state spending.

The Russian government has shifted its focus towards stabilizing domestic food prices as a central concern. This announcement was made by Deputy Prime Minister Dmitry Patrushev, who cautioned that if price hikes continued, the state might impose export restrictions on commodities such as butter.

The deputy emphasized the government's primary goal of ensuring an ample domestic supply, urging milk producers to be proactive amidst rising demands. Price surges in essential goods have led to unusual phenomena, such as butter theft in supermarkets.

President Vladimir Putin has instructed the government to maintain food supply stability, addressing an inflation rate that had reached 9.5% last year and provoked the central bank to raise interest rates significantly. The 2024 situation is compounded by poor harvest yields, driving further economic concerns among the population.

(With inputs from agencies.)