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Order of August 25, 2021 No. 2354-r

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Order of August 25, 2021 No. 2354-r

The mechanism of government intervention can be used in the sugar market. The order was adopted by the Government.

Interventions are used as a tool to regulate prices and support agricultural producers. When prices are low, the state purchases products from farmers for the intervention fund. In case of a noticeable rise in prices, it sells, thereby stabilizing the market situation.

The formation of the state intervention fund will begin in 2022.

Earlier, the Government adopted a set of measures to reduce food prices, developed on behalf of the President. As part of this work, duties on a number of agricultural products were adjusted, tools were created to support millers and bakers, agreements were signed with industry associations, manufacturers of goods, suppliers and retail chains to stabilize prices for sugar and sunflower oil.

For a prompt response to the situation, an interdepartmental working group was also formed, headed by First Deputy Prime Minister Andrei Belousov.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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