Agreements on prices for sugar and butter in Russia are not planned to be extended

Published 2021년 3월 2일

Tridge summary

Russia's Deputy Minister of Industry and Trade, Viktor Yevtukhov, has indicated that there is no intention to extend the agreements that set maximum prices for sugar and sunflower oil. Yevtukhov believes that over-regulation can negatively impact logistics and supply chains. He also highlighted that data from Rosstat and the Federal Tax Service shows that prices for products under the agreement are stabilizing. The Ministry of Agriculture is optimistic about a good harvest this year and anticipates positive trends in the production of other agricultural products, which suggests no shortage of products and no reason for price increases.

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Original content

There is no need to extend the agreements that fix the maximum prices for sugar and sunflower oil in Russia, said Deputy Minister of Industry and Trade Viktor Yevtukhov. Writes about this TASS. “There is still a month ahead of [current agreements], and in the future I would not want to strongly interfere with market relations in this industry and extend these agreements or increase the number of product categories that fall under them,” he said. Evtukhov believes that tight regulation violates logistics and supply chains of goods - this can lead to consequences that need to be predicted from a macroeconomic point of view. “I really hope that the Government of the country will not have to make such decisions. But again, it is also impossible today to absolutely guarantee that no action will be taken at all. Let's see how events will develop in terms of growth or decline in prices for certain food products, ”said the Deputy Minister. According to him, the data of Rosstat and the ...

Source: Kvedomosti