The Ministry of Agriculture offered to buy sugar for a special intervention fund over the next two years and did not rule out raising the export duty on sunflower oil to curb the rise in prices for these products, Forbes said, citing a representative of the Ministry of Agriculture.
The ministry also proposed introducing incentives for those who will import sugar to Russia in 2022. An increase in sunflower production in Russia this year will also help stabilize the sunflower oil market, the Ministry of Agriculture added. The Ministry has developed proposals to curb prices for sugar and butter on behalf of Deputy Prime Minister Victoria Abramchenko, they will be submitted to the government for consideration, the Ministry of Agriculture added.
According to Rosstat, the annual rise in sugar prices in Russia in October amounted to 11.32%, sunflower oil – 16.31%. Compared to September, the cost of these goods increased by 2.03 and 0.58%, respectively. At the end of last year, sugar rose in price by 64.54%, and sunflower oil – by 25.91%. As a result, in October 2021, retail sugar was traded at an average of 52.8 rubles. per kg, oil – 123.6 rubles. per liter.
At the end of 2020, Russian President Vladimir Putin pointed out to the government a significant increase in prices for these products. As a result, a number of manufacturers and retail chains signed an agreement with the Ministry of Agriculture and the Ministry of Industry and Trade, according to which the maximum selling price for sunflower oil was set at 95 rubles. per liter, retail price – 110 rubles. per liter, and the cost of sugar is at the level of 36 rubles. and 46 rubles. per kg, respectively. Such prices for the first of the goods were valid until October 1, 2021, for the second – until June 1. In the future, the authorities decided not to extend the measure.