Agriculture Ministry: No reason for bread price jump in Russia

MOSCOW, Jan 26 (PRIME) -- There is no reason for the prices for bread and bakery to increase significantly, the Agriculture Ministry said late on Tuesday when RBC business daily quoted a subsidiary of Finnish company Fazer Group that production costs of its bakery goods grew by 18% and that industry costs will rise seriously later this year.

“Currently, there are no prerequisites for a significant increase of the bakery goods prices,” the ministry said in a statement.

“At the same time, some cases of price revision for some goods from the entire assortment are possible, which is usual practice of relations between the producers and the retailers.”

The government introduced several measures of customs and tariff regulation, including a grain export quota, to stabilize the market. The government also issued 4.7 billion rubles of additional subsidies to the flour mills and bakeries in 2021. The measures ensured price stabilization, the ministry said.

(78.6422 rubles – U.S. $1)

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