UPDATE: Ministry says sees no problems with sugar, sunflower oil purchases

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MOSCOW, Jan 14 (PRIME) -- Russia’s Industry and Trade Ministry did not receive information from regional retail chains about difficulties with the purchase of sunflower oil and sugar, a spokesperson for the ministry told PRIME on Thursday.

“The Russian Industry and Trade Ministry has not officially received information from regional trade chains about difficulties with the purchase of sunflower oil and sugar,” the spokesperson said.

The Retail Companies Association (ACORT) also said it had no information about difficulties with supplies.

The Agriculture Ministry said it does not note interruptions in the supply of sunflower oil and sugar by producers, all parties of the agreements on price stabilization fulfill their obligations.

“The ministry does not note any interruptions in the supply of sunflower oil and sugar by producers. According to the Agriculture Ministry, enterprises holding over 90% of the sunflower oil market and about 100% of the sugar market have joined the agreements on price stabilization,” the statement said.

“All participants fulfill their obligations in full, systematically carrying out deliveries to both large and small retail chains on the terms specified in the relevant agreements,” the ministry said.

Kommersant business daily reported on Thursday citing a source in a retail company that some retail chains had difficulties in purchasing sunflower oil and sugar at fixed prices. The source said that manufacturers either refuse to sell goods on these terms, or ignore requests.

In December, the government announced a set of measures in connection with the rise in food prices in Russia, including conclusion of agreements on the stabilization of prices for sugar and sunflower oil, which are valid until April 1. The agreements fix the maximum wholesale and retail prices: for sugar – 36 rubles per kilogram in wholesale and 46 rubles in retail, for sunflower oil – 95 rubles per liter in wholesale and 110 rubles in retail.

(73.5264 rubles – U.S. $1)

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