Rusagro puts lost profit from sugar, oil price deal at 200 mln rbl/mo

MOSCOW, Mar 31 (PRIME) -- Russian agricultural holding Rusagro estimates the lost profit from the sunflower oil and sugar price stabilization agreement at 200 million rubles per month, the group said in a statement on Wednesday.

"Rusagro estimates the lost profit at 200 million rubles per month. The company thinks that continuation of state price management will lead to negative economic consequences," the holding said.

The government signed agreements with the sugar and sunflower oil producers in December 2020, capping prices at 46 rubles per kilogram of sugar and 110 rubles per liter of sunflower oil in retail trade, respectively. The agreements were to expire on April 1 but on Tuesday were prolonged until June 1 for sugar and until October 1 for oil.

(75.7023 – U.S. $1)

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