Main problems on Russian food market logistical, but they will be fixed - Abramchenko

MOSCOW. April 8 (Interfax) - The main problems on the Russian food market at the moment are logistical, Deputy Prime Minister Viktoria Abramchenko, who oversees the agribusiness sector, said.

"We're solving logistical problems that, due to unfriendly actions in regard to Russia, are currently, in my view, the main problems. We're handling all the other problems. But we'll also solve the logistical ones, because it's impossible to shut such a huge country as Russia out of the global economy, that's utopia," Abramchenko said on TV channel Rossiya24 after the government's report to the State Duma on Thursday.

She said the country has a good head start on fully supplying itself with its own food. "In these conditions it's important to support farmers, so that they continue to invest their own resources as well, so that they continue to invest in the sector," Abramchenko said.

"The investment cycle in agriculture continues, despite the Bank of Russia's high key rate," she said. Recalling that an additional 153 billion rubles will be allocated for subsidized loans for the agribusiness sector, Abramchenko said "these funds will be channeled into loans at 5%," which is "very good support for the sector."

She reiterated that she opposes "manual, clumsy price regulation," that could lead to shortages on store shelves. "Prices are rising because producers' costs are rising. Our job is to maintain a balance. Agricultural producers are already curbing maximum price growth," Abramchenko said.

Commenting on the surge in demand for sugar, she said there is no need to stock up. "We produce about 6 million tonnes of sugar, but we consume 5.8 million tonnes. We have enough of our own sugar to fully meet demand," Abramchenko said, adding that sugar self-sufficiency exceeds the target of the country's food security doctrine.