Buckwheat Panic Points to Economic Fears

St. Petersburg Times ^ | November 20, 2014 | Alexander Panin

[Loyalist]

Following the news of a bad buckwheat harvest, panic buying of the traditional foodstuff sent prices soaring in a sign that some analysts say is likely linked to economic anxieties, not harvest yields.

The run on buckwheat "indicates people's expectations of an upcoming economic crisis, to which consumers are always keenly attuned," said Natalia Kolupaeva, a retail analyst at Raiffeisenbank.

Prices for buckwheat started to grow at the end of October on reports of a bad harvest in the Altai region in Siberia, which produces about 40 percent of the buckwheat in Russia.

News of the bad harvest spread like wildfire, causing consumers to panic even in regions hundreds of kilometers away from Siberia. Several large retail chains reported that customers were buying out stocks of buckwheat as soon as they appeared on the shelf.

Since then, the average wholesale price of buckwheat has spiraled up to about 45 rubles (96 cents) per kilogram, with prices growing by up to 80 percent in some regions, according to news agency RIA Novosti.

State statistics service Rosstat reported Wednesday that prices for buckwheat grew by 27.5 percent on average since the beginning of November.

But analysts said there is no logical basis for double-digit price hikes.

Russia is expected to produce over 700,000 tons of buckwheat this year, more than enough to meet the annual demand, which is about 650,000 tons.

"The growth of price [for buckwheat] is noneconomic, so when things cool down prices should drop by about 30 percent," Vladimir Petrichenko, the head of ProZerno analytical center, was quoted by news agency TASS as saying on Wednesday.

"This is just hysteria cased by the poor harvest in the Altai region," he added.

[Loyalist]

But seriously folks....

Any hint of a Soviet-era shortage is going to send the Russians into full-on panic mode.

[showme_the_Glory]

wookin puh nub?

[Sybeck1]

Sounds like the prologue to the original Red Dawn

[Jack Hydrazine]

What?

[bert]

Gluten free recipe ....Buckwheat noodles and cauliflower

Buckwheat noodles, quantity as desired

1 tbsp cold-pressed canola oil

2 shallots, thinly sliced

3 garlic cloves, mashed

2 tbsp low-sodium soy sauce

3 tomatoes, peeled, seeded and diced

1 large head of cauliflower, cut into florets

1 small onion, thinly sliced

2/3 cup vegetable broth

½ tsp fresh lemon juice

2 tsp evaporated cane sugar

2 green onions, thinly sliced

½ cup chopped cilantro

Directions:

For the buckwheat noodles: Fill a pot with water, much more than for spaghetti, boil noodles for about two minutes; it should be al dente but still cooked. Then strain and place right away into a bowl of cold water, strain again just before adding sauce.

For the sauce: Heat the oil in a skillet over medium heat. Add the shallots and garlic and sauté for one minute. Add the soy sauce and tomatoes and cook for another three minutes. Add the cauliflower, onion, vegetable broth, lemon juice, sugar and green onions.

Reduce the heat and cook, stirring frequently, until the cauliflower is tender but crisp, about 10 minutes. Add 2 tbsp of water as it cooks to prevent sticking, if necessary. Do not overcook.

Transfer the cauliflower to the bowl with the noodles and stir. Add the cilantro before serving.

[JimRed]

Dat word “Buckwheat”, dat be rayciss!

[Common Sense 101]

“Wookin puh nub” was one of Buckwheat’s hit tunes (it’s from an Eddie Murphy sketch while he was on SNL; consider it the ebonics version of “Looking for Love”).

[MrB]

EXACTLY the pic I was thinking of...

[moovova]

Wars have been started over less.

[Lazamataz]

“Buckwheat Panic”, which is, of course, the Secret Service’s code name for POTUS.

[Jack Hydrazine]

https://www.youtube.com/watch?v=MgFDv_4oKsw

[snoringbear]

“Wars have been started over less.”

Dang right! Don’t know what I would do if I Cracker Barrel should discontinue their buck wheat pancakes :)

[MarchonDC09122009]

Priceless clever!

[kevslisababy]

My mom used to make buckwheat pancakes when I was growing up. I don’t know if was her cooking for the buckwheat, but they were AWFUL.

[mikey_hates_everything]

I was thinking more of this:

[Kozak]

Along with the classic
Once Tice Fe Tines a Mady....

[eddiespaghetti]

Did you know that the actor who played Buckwheat on The Little Rascals converted to Islam?

Upon doing this, he changed his name to Kareem of Wheat.