November 28, 2011

Latvian grain prices increase in fall 2011

Latvia's grain prices have increased 16-27% as compared to last fall, according to Rigonda Lerhe, Agriculture Ministry's deputy state secretary.

The prices for wheat, rye, barley and oats are respectively 16%, 12%, 24% and 27% higher than last fall.

Last October, a tonne of wheat cost LVL120 (US$ 228.8), whereas this year the price is LVL140 (US$266.9). Rye cost LVL 110 per tonne last fall and LVL122 (US$232.6) now, barley prices have increased from LVL92 to 114 (US$175.4 to 217.3) per tonne, and prices for oats from LVL73 to 92.9 (US$139.2 to 177.1) per tonne.

On the other hand, the price of buckwheat has reduced 44% from LVL347 (US$661.6) per tonne last fall to LVL192 (US$366) this year.