PRESS: Russian dairy product prices may grow 10% in 2017

MOSCOW, Dec 9 (PRIME) -- Russian dairy production will decrease, while prices will grow by 10% in 2017 due to a reduction of the government support and lower demand, Izvestiya daily reported Friday citing Arkady Ponomaryov, head of the Russian Dairy Union.

Consumption of dairy products on the whole fell by 15% over last year due to lower population’s incomes, the daily said.

“People just do not have money. Correspondingly, the market will start falling,” he said.

Subsidies for a liter of produced milk are expected to fall by 30% to 7.9 billion rubles in 2017, the daily said.

(63.3901 rubles – U.S. $1)

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