Russia (bbabo.net), - Following recommendations from the Federal Antimonopoly Service (FAS) and the Ministry of Agriculture, 20 agricultural holdings have fixed selling prices for retail sales, the ministry said.

Together, these companies provide 93% of the sugar produced in the country. Prices will be fixed at 47 rubles per kilogram until July 31, 2022 inclusive.

"This measure will ensure a stable situation on the market of socially significant products and transparent pricing," the Ministry of Agriculture believes.

In order to maximize the effect, the agency also considers it appropriate to develop the same recommendations for the trade policies of retailers.

The ministry notes that in 2022 it is planned to expand the area under sugar beets and form sugar reserves in the intervention fund. This will contribute to the stabilization of selling prices in the face of a significant increase in the costs of domestic producers. In addition, to meet the needs of the domestic market, imported sugar is allowed on the Russian market: 300 thousand tons can be imported without duty until August 31, 2022 inclusive.

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