The Russian government will extend the price limit on sugar and sunflower oil

The Russian "Communiqué" reported on March 22 that the Russian government held an inter-departmental working group meeting on important commodity foodmate.
net/tag_2496.
html" class="zdbq" title="Price related food information" target="_blank">price monitoring and response and made a series of work arrangements.
Details are as follows:

 

　　First, in order to continue to control the retail price of foodmate.
net/tag_1685.
html" class="zdbq" title="Sugar-related food information" target="_blank">sugar and foodmate.
net/tag_1046.
html" class="zdbq" title="Sunflower Seed Related Food Information" target="_blank">sunflower oil within the acceptable level of the public, the Russian Federal Anti-Monopoly Service, the Ministry of Agriculture, and the Ministry of Industry and Trade are instructed to hold talks with companies to discuss the effective date of the sugar price limit measures from April 1st.
It was postponed to June 1, and sunflower oil was postponed to October 1.
At present, according to the price limit agreement signed by Russian producers and retail chains from December 2020, the starting price of sugar is 36 rubles per kilogram and the retail price is 46 rubles; the ex-factory price of sunflower oil is 95 rubles per liter and the retail price is 110 ruble.
This measure has achieved certain results.

 

　　The second is to plan to issue subsidies to sugar and sunflower oil producers.
Starting from April 1, if sugar producers do not raise prices, they will be subsidized by 5 rubles per kilogram of their retail sugar for a period of up to 6 months.
The total subsidy is expected to reach 3 billion rubles (approximately US$40 million); for example, sunflower oil producers strictly control prices, and will also receive a six-month production cost subsidy.
This will stimulate producers, increase the supply of "shelf" goods, and put pressure on price increases in various fields.

 

　　Third, the Eurasian Economic Commission is considering abolishing the import tariffs on sugar (no more than 350,000 tons) from May 15 to August 31, 2021.

 

　　The fourth is to expand the planting area of ​​sugar beet to 1 million hectares.

 

　　It is expected that the above measures will help to obtain more than 6 million tons of sugar, which is sufficient to meet the domestic market demand.

 

　　According to data from the Russian Statistical Office, as of March 15, Russia's annual inflation rate reached the highest level since November 2016-5.
8%.
It is expected that inflation will gradually slow down in the future.