04:37 GMT +3 hours27 November 2014
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Grain Prices at Post-Soviet Record

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Russian grain prices have reached a post-Soviet high, rising by more than 1,000 rubles ($32.25) per ton in the past week alone, the Vedomosti daily reported on Tuesday.

Russian grain prices have reached a post-Soviet high, rising by more than 1,000 rubles ($32.25) per ton in the past week alone, the Vedomosti daily reported on Tuesday.

Fourth grade wheat cost 11,200 rubles per ton in Novosibirsk and 10,400 rubles per ton in Novorossiisk.

Dmitry Rylko, director of the Insitute of Agrarian Market Studies, those prices are the absolute maximum in post-Soviet history.

Grain prices have been steadily rising in Russia since this past July, due to drought in the country’s chief agricultural regions.

The Agriculture Ministry expects the grain harvest to gross about 75 million tons of grain this year.

Earlier in the year, the harvest forecast stood at 95 million tons.