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Russian Grain Now More Expensive than Oil

Grain prices haven't reached maximum yet

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The price of wheat in Russia grew last week to surpass that of oil, reports Russia Beyond.

Oil seems to be losing its place as the main Russian export this year. On March 16-20, the price of wheat in Russia grew by 1,020 rubles to reach 13,270 rubles ($164) per ton, surpassing that of Urals oil, which fell to 12,850 rubles ($158) per ton.

Russian wheat prices have grown as a result of the March ruble devaluation, as well as rising prices on the global market.

The price hasn't reached its maximum yet, and will continue to grow, as there is still a risk of undersupply in some countries.

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