Russia to spend RUB 9 Bl on stabilizing sugar and sunflower oil prices

The Russian government will allocate RUB 9 Bl from the state budget to the Ag Ministry for partial compensation of costs of sugar and sunflower oil producers in order to stabilize food prices, UkrAgroConsult reports.

The largest inter-budget transfers are projected to Voronezh region – RUB 1.668 Bl, Rostov region – RUB 1.125 Bl, and Krasnodar region – RUB 1.043 Bl.

Partial compensation of sunflower oil production costs will be made at a rate of RUB 10 per liter of own-produced refined bottled sunflower oil sold to retailers for at most RUB 95/liter.

The cost compensation mechanism will be effective from Aril to the end of September 2021.