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- Product difference: what measures the Cabinet of Ministers is taking to stabilize commodity prices
Product difference: what measures the Cabinet of Ministers is taking to stabilize commodity prices
The government is taking measures to make food products available to Russians due to increased demand and rising prices. This was announced to journalists by Deputy Prime Minister Dmitry Patrushev following a meeting in the Cabinet of Ministers. According to him, today the domestic market is fully provided with products, and agrarians, despite the very difficult weather conditions this year, have collected a decent harvest. As "Izvestia" reported, earlier a number of the largest producers of dairy products have already agreed with retail chains to reduce prices, and the trade in turn expands the range of goods with minimal markups.
How the state stabilizes food prices
Dmitry Patrushev told reporters that at a meeting in the government on November 29 they discussed the situation on the food market, which today, according to him, is fully supplied with products.
- Russian agrarians, despite very difficult weather conditions in 2024, harvested a decent crop. The situation in livestock breeding and fishery complex is stable, the food and processing industry is working dynamically, - explained Deputy Prime Minister.
Nevertheless, given the increased demand for a number of food products and, as a consequence, the trend of rising prices for them, the government is taking additional measures aimed at increasing the affordability of goods, he said.
As Dmitry Patrushev explained, among the measures taken is the conclusion by the regions of agreements with producers and chains to stabilize prices, including butter, sugar, bread and vegetables of the so-called "borscht set".
- As of today, there are 36 such entities. We see that there is a positive effect. Therefore, we agreed that FAS will recommend other regions to use this tool. And also in general will continue to control prices, - said Deputy Prime Minister.
The Cabinet of Ministers also encourages retail chains to establish long-term contractual relations with producers of vegetables and potatoes. This will enable both producers and networks to clearly understand at what price the products will be purchased and sold. In addition, it will guarantee sales to agrarians and eliminate intermediaries from the chain.
- Thirdly, to fully saturate the market, we continue importing certain types of products from friendly countries. But at the same time, we certainly rely on increasing our own production, - emphasized Dmitry Patrushev.
How much money will be allocated to the agro-industrial complex
Deputy Prime Minister noted that state support for agro-industry is growing, and next year more than half a trillion rubles is provided for it. The issue of additional allocation of funds to the Ministry of Agriculture in 2025 to finance investment projects in dairy and meat cattle breeding, vegetable growing, fruit and berry production is being worked out. Additional money will also be allocated for short-term soft loans for the sowing campaign.
- The total amount will amount to about 40 billion rubles. The funds will be promptly communicated to agrarians. Thus, we will continue to systematically increase production in order to meet the growing demand for Russian products, - emphasized Dmitry Patrushev.
At the same time, he said, control over the export of agro-industrial complex products will be strengthened to prioritize the domestic market. Such measures should stabilize the price situation, said Deputy Prime Minister.
Earlier, as "Izvestia" wrote, a number of the largest producers of dairy products have already agreed with retail chains to reduce prices. This concerns both discounts on the most important goods, such as drinking milk and butter. The price reduction will amount to 10% to 15% depending on the products. And the retailer in turn expands the range of goods with minimal markups.
As "Izvestia" noted in the Ministry of Agriculture, the priority task for further stable development of the industry is to increase the production of raw materials. Its volumes in Russia are growing annually. In 2024, the positive dynamics continues: the production of raw milk in January-October in agricultural organizations increased by 3.1% compared to the same period of 2023 and amounted to 17.3 million tons. In 2025, further growth of volumes is expected.
According to Georgy Ostapkovich, Director of the Center for Conjunctural Research at the Institute of Economic Research of the National Research University Higher School of Economics, money for the agro-industrial complex from the budget will not hurt, as it may contribute to lower prices next year. As for other measures, everything will depend on the economic situation, the expert believes. In his opinion, the situation can be remedied by a reduction in the key rate and additional government assistance in the form of grants and subsidies to the industry.
