7 Apr 2021 10:50

Russian gov't allocates 9 bln rubles toward subsidies for sugar, sunflower oil producers

MOSCOW. April 7 (Interfax) - The Russian government has allocated 9 billion rubles for subsidies for producers of granulated sugar and sunflower oil.

The relevant instructions were signed by Prime Minister Mikhail Mishustin, the cabinet press service said in a statement.

The decision extends to companies which participate in the agreements on stabilization of prices for food products. In total , 9 billion rubles will be allocated from the reserve fund for compensation, which will fix the cost of 1 kg of sugar at no more than 36 rubles for wholesalers and 46 rubles for retail consumers, and 1 liter of oil at 95 and 110 rubles, respectively. The transfers will be distributed on the basis of applications received from regions.

It is expected that at least 600,000 liters of oil and at least 600,000 tons of sugar will be sold at such prices, the statement said.

The government also approved the rules for providing payments. The document stipulates that companies which fix prices will receive compensation at a rate of 10 rubles per 1 liter of oil and 5 rubles per 1 kg of sugar.