How to stop the rise in prices of sugar and sunflower oil in Russia?

Published 2021년 12월 6일

Tridge summary

The Russian Ministry of Agriculture is proposing measures to control the rising prices of sugar and sunflower oil. The plan includes creating an intervention fund to purchase sugar and regulate its market price, and potential benefits for sugar importers in 2022. For sunflower oil, the ministry is considering increasing export duties to stabilize domestic prices. Experts believe these measures are reasonable and necessary to ensure stability in the fat-oil complex and provide fair prices to agricultural enterprises. The rapid price increase for these commodities is linked to global market dynamics and monetary inflation from pandemic relief payments in the United States and Europe.

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Original content

Guests of the OTRAZHENIE information program Video here Mikhail Maltsev Executive Director of the Russian Fat and Oil Union Dmitry Vostrikov Executive Director of the Rusprodsoyuz Association of Producers and Suppliers of Food Products Marina Kalinina: Well, the first topic of today's broadcast. The Ministry of Agriculture has proposed measures to curb the rise in prices for sugar and sunflower oil. The agency proposes to buy sugar into a special so-called intervention fund in the next 2 years, so that later they can sell sugar from this fund when prices for it rise sharply. Another measure is benefits for those who will import sugar into Russia in 2022. As for sunflower oil, the Ministry of Agriculture does not exclude an increase in the export duty on it. Ivan Knyazev: Prices for sugar in annual terms have grown in our country by more than 11%, for vegetable oil - by 16%, even a little more. At the same time, the head of the Central Bank Elvira Nabiullina called in April to ...

Source: Oilworld