Putin says situation on global food market worsens

MOSCOW, Feb 4 (PRIME) -- The situation on the global food market is getting worse, President Vladimir Putin told Economic Development Minister Maxim Reshetnikov on Thursday.

"The situation on the food market, the global market, is unfortunately deteriorating," Putin said.

Reshetnikov agreed saying that all countries importers had raised purchases of food for the reserves, while several grain producing regions have poor harvest forecasts hurting prices and the mood.

"There was a sharp price rise in the fourth quarter of last year, primarily for food. And today, this is the main risk zone for higher household incomes and macroeconomic stability in general," the minister said.

The agreements signed in December for sugar and oil prices worked, and sugar prices fell from December, while oil prices stabilized, he said.

Putin said that Russian consumers must see results of government efforts to stabilize prices.

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