Medvedev: Russia not to introduce food price regulation

MOSCOW, Mar 11 (PRIME) -- It is impossible to reintroduce Soviet-style food price regulation in Russia, Prime Minister Dmitry Medvedev said at a meeting to discuss retailers’ relations with food producers on Wednesday.

“I would like to specially draw your attention to the fact that I do not mean a comeback to state price control, like it was in the past. This is impossible,” Medvedev said.

On Tuesday, the State Duma, the parliament’s lower house, received a bill meant to cap wholesale prices for some staple food from regional lawmakers and it will soon discuss it. The government already has the right to set limits on retail food prices if they soar.

Authorities are considering introducing “a targeted food aid” for poor people, Medvedev said. Only local producers will participate in the program, he said.

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