Food prices in different countries 2023

Food prices are an important factor affecting the welfare of the population and the economy of a country. They are determined by a complex interaction of factors such as the level of agricultural development, climate conditions, transportation infrastructure, government policies, and international trade. In this article, we will compare the prices for some food products in Russia, China, Vietnam, India, the Philippines, Indonesia, and Turkey in 2023.

Egg prices range from 128 – 251 rubles.

1. Russia – 128 rubles.
2. India – 154 rubles.
3. Indonesia – 166 rubles.
4. Vietnam – 199 rubles.
5. Philippines – 200 rubles.
6. China – 213 rubles.
7. Turkey – 251 rubles.

Despite the increase in egg prices in Russia in 2023, they still remain one of the cheapest and most affordable in the world. -India and Indonesia are among the largest egg producers in the world. Poultry farming in these countries is actively developing, both on a large industrial scale and small-scale farms. The demand for eggs is growing, especially due to population growth and urbanization.

Vietnam, the Philippines, and China are important players in the egg market, both in production and consumption. Eggs remain an affordable and nutritious food product for the population of these countries. (For example, duck eggs are popular in Vietnam, considered a delicacy and used in some traditional dishes; in China, salted duck eggs). 

In contrast, egg prices in Turkey have significantly increased in recent years. Reasons include: 1) Turkey heavily relies on imports of soybeans and corn, which are the main components of poultry feed; 2) The depreciation of the Turkish lira against the dollar and euro has increased the cost of imported feed; 3) High inflation rates.

---

Chicken meat prices range from 167 – 761 rubles/kg.

1. Russia – 167 rubles.
2. Indonesia – 187 rubles.
3. Turkey – 234 rubles.
4. Philippines – 320 rubles.
5. Vietnam – 326 rubles.
6. China – 508 rubles.
7. India – 761 rubles.

The lowest price is again in Russia. Our country is almost completely self-sufficient in chicken meat, which reduces dependence on imports and promotes price stability.

Indonesia is one of the largest producers of chicken meat in Southeast Asia. Chicken is used in a variety of dishes, from traditional nasi goreng and sate ayam to modern interpretations. It also plays an important role in Indonesian culture, being used in religious ceremonies and celebrations. 

Turkey is one of the largest producers of chicken meat in Europe and the Middle East. Chicken is used in a wide variety of Turkish dishes, from kebabs and doners to soups and salads. 

Chicken is a major source of protein and a popular meat in both the Philippines and Vietnam. Filipinos consider chicken meat a symbol of prosperity and well-being, while Vietnamese associate it with luck and prosperity. 

In recent years, there has been a trend of rising chicken meat prices in China. Reasons include: 1) China imposed restrictions on chicken meat imports, protecting domestic producers but limiting supply and leading to price increases; 2) Prices of bird feed, such as corn and soybeans, have significantly increased in recent years. 

In India, the high price of chicken meat is due to the annual abnormal heatwave. It causes a sharp decrease in chicken meat production due to mass deaths of poultry. Birds are unable to withstand the extreme temperatures reaching from 40 to 44 degrees. Additionally, the majority of the population in India does not have refrigerators, which are only found in affluent households.

---

Prices of vegetable oil range from 128 to 504 rubles.

1. Russia - 128 rubles
2. India - 154 rubles
3. Turkey - 189 rubles
4. Vietnam - 213 rubles
5. China - 300 rubles
6. Philippines - 421 rubles
7. Indonesia - 504 rubles.

Russia is one of the largest producers and exporters of vegetable oil in the world. This is not surprising, as Russia has extensive areas suitable for growing oilseeds such as sunflower, soybean, and rapeseed. The price is again the lowest among other countries.

India is one of the largest producers of vegetable oil in the world, but does not fully meet its own needs, despite the fact that vegetable oil is an important component of Indian cuisine. -Prices for vegetable oil in Turkey are relatively stable due to a high level of self-sufficiency. At the same time, Turkey exports significant volumes of sunflower oil to other countries. -Sunflower oil is not a traditional product in Vietnam. Other vegetable oils such as palm, soybean, peanut, and rice bran oil are mainly used. However, with the growing popularity of healthy eating and the awareness of the benefits of sunflower oil, its consumption is gradually increasing, especially in large cities. 

Sunflower oil is one of the most popular vegetable oils in China, along with soybean, peanut, and rapeseed oil. Production volumes do not always meet the domestic demand of the Chinese population, so China imports sunflower oil, mainly from Russia. 

Despite Indonesia being the largest producer of palm oil and the Philippines being a major producer of coconut oil, these countries have high prices for vegetable oil. Several factors contribute to this: 1) a significant portion of produced palm oil is exported, reducing its availability in the domestic market and increasing prices in Indonesia; 2) The Philippine coconut industry faces issues such as aging trees, low productivity, and lack of investment, leading to limited supply of coconut oil and price increases.

---

Thus, analyzing prices for specific types of food in different countries allows us to conclude that the situation in global markets remains dynamic and volatile. Despite some similar trends, each of the countries examined has its own characteristics and factors influencing food prices. In Russia, China, India, Vietnam, the Philippines, Indonesia, and Turkey, there is a variety of food prices related to the economic peculiarities of each country. However, the overall trend towards increasing food costs persists. Factors such as inflation, devaluation of the national currency, changes in foreign trade, and natural disasters have a significant impact on food prices.

To better understand the specifics of each country and achieve real results in Asian countries, it is important to have your own team there that systematically and methodically solves the tasks of your business on a daily basis. The RAUIE provides opportunities to organize a representation of your company in Asian countries. With minimal costs, you can open a representation of your company based on the RAUIE's existing commercial structures in China, India, Vietnam, the Philippines, Indonesia, and Turkey.

You can leave a request for a free consultation in the feedback form on the website ("Ask a question" on the right side of the page), by email at business@raspp.ru, or by phone at +7-963-963-8363. Natalya Sapunova, the Head of the RAUIE Department for Strategic Partners, will assist you.