MOSCOW, April 9 – RIA Novosti. Measures to support the enterprises of the fat and oil industry will help maintain the profitability of the production of mayonnaise and sauces, the Ministry of Agriculture said.
Earlier, the Kommersant newspaper reported that manufacturers had warned retailers about price increases for these goods by five to twelve percent. The rise in price, as explained by the publication, is associated with an increase in prices for raw materials – sunflower and tropical oils, as well as for packaging and transportation of products. Market participants argue that a rise in prices will only make it possible to avoid losses.
“New measures to support enterprises in the oil and fat industry, as well as customs and tariff regulation of the export of oilseeds will help maintain the necessary profitability of the production of fat and oil products, reduce the cost of purchasing ingredients for mayonnaise and sauces and ensure a stable price level for these products,” the ministry said in a commentary.
Prime Minister Mikhail Mishustin previously signed a decree on partial compensation to sunflower oil and sugar producers for the costs of manufacturing and selling products. The decision concerns companies that participate in price stabilization agreements. In total, nine billion rubles will be allocated from the reserve fund for this.
In addition, the government approved the parameters of a floating duty on the export of sunflower oil from Russia: it will be introduced from September 1, 2021 to August 31, 2022 and will amount to 70 percent of the difference between the base price of one thousand dollars and the indicative price minus 50 dollars per ton.
At the same time, the Cabinet of Ministers approved an adjustment (from 30 to 50 percent of the customs value, but not less than $ 320 per ton) of the export duty on sunflower seeds and extended the increased export duty rate (30 percent) on rapeseed.