Russia may freeze prices for a range of basic food products. 

Russian media reports say the authorities may introduce measures to curb the rise in prices for sunflower-seed oil and granulated sugar.   

According to Izvestiya, the Russian government may fix the upper limits of selling prices for granulated sugar and sunflower-seed oil for three months beginning on January 1, 2021.  

This initiative was reportedly put forward by the Ministry of Industry and Trade, the Ministry of Agriculture, the Ministry of Economic Development and the Federal Antimonopoly Service.  The proposal was submitted for consideration to the government on December 14. 

They propose to set prices for the sunflower-seed oil at 95 rubles per 1 liter when purchasing products from manufacturers and 110 rubles on the shelf, as well as 36 and 45 rubles per 1 kilogram of sugar, respectively.

It is noted that the new agreement will be consolidated in the form of an agreement between the companies.

Recall, the problem of rising prices for basic foodstuffs was raised by President Vladimir Putin during a meeting on economic issues that took place on December 9.

Speaking at the meeting, Putin noted that sunflower-seed oil rose 23.8% in price, flour – 12.9%; bread and bakery products – 6.3%.

Putin reportedly demanded at the meeting that the situation be normalized.  

Earlier it had become known that sugar producers and the oil and fat union are preparing agreements on the sale of products at the lowest possible prices.

According to Viktor Yevtukhov, Deputy Minister of Industry and Trade of the Russian Federation, there are no objective prerequisites for a rise in food prices in Russia.  According to him, the increase in prices was caused by an attempt by manufacturers to obtain additional profits during the pandemic.