The Russian government will support flour producers and bakery enterprises in the regions by allocating 4.5 billion rubles to them. The measure will help contain the rise in prices due to rising prices for cereals. This was announced on Thursday, January 21, by the Prime Minister of the Russian Federation Mikhail Mishustin.
“We hope that these transfers will allow flour producers to compensate for part of the costs of purchasing wheat, and bakery enterprises will reduce the costs of selling their products. Such a balanced decision will not only help the food industry, but first of all will keep prices down, ”he said during a meeting of the Russian government.
Mishustin instructed the Ministry of Agriculture to promptly conclude agreements with the regions on the provision of transfers.
At the end of December 2020, the Russian government allocated 4.7 billion rubles to support producers of flour, bread and bakery products, funds were allocated to compensate for the costs of purchasing grain and selling finished products.
In mid-December last year, the Russian Prime Minister signed a number of decrees to stabilize the situation on the food market. In particular, in order to stabilize prices for flour and bread, for the export of wheat, rye, barley and corn, the Cabinet of Ministers will set a tariff quota of 17.5 million tons.