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. Last Updated: 07/27/2016

Bread Prices Set to Leap

MOSCOW (MT) - The cost of bread in Russia will likely go up to 139 rubles per one kilogram loaf after an expected doubling in the price the government pays for grain, Leonid Cheshinsky, head of Russia's grain corporation Roskhlebprodukt, said Tuesday.

Cheshinsky said that the government and grain producers are expected to sign a new agreement to double the purchase price of grain from 45, 000 to 50, 000 rubles per ton, Interfax reported. Cheshinsky also said the measure will follow the government's decision to cut subsidies for grain imports.

An average price of bread is now about 50 rubles.