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Opening remarks by Mikhail Mishustin:

Strategic session on the pricing environment of world markets and measures to limit its impact on domestic prices

Good afternoon, dear colleagues!

The results of the next agricultural year are beginning to be laid this fall. Therefore, it is necessary to smooth out the influence of the world conjuncture. The President instructed to carefully analyze the current situation and, by November 1, develop a set of measures to neutralize the risks of negative consequences of energy shortages in European countries in Russia. Including – the destabilization of the markets for nitrogen fertilizers, metallurgical products and food.

I propose today to discuss possible steps in order, on the one hand, to guarantee the availability of fertilizers in the domestic market, and on the other, to preserve the competitiveness and export opportunities of Russian producers of such goods. After all, the cost of products depends on this.

Session participants

List of participants in the strategic session “On the pricing environment of world markets and measures to limit its impact on domestic prices”

The Russian production of mineral fertilizers has long been integrated into the global market and provides a significant part of the export earnings of our country as a whole. But such a situation is a double-edged sword. Not only do the government and business receive more revenues, but the pressure on our internal price history is inevitably growing. Indeed, for a good harvest, fertilizers are needed, and preferably at affordable prices. The higher they are, the more difficulties our farmers have.

To contain the rise in food prices, a number of decisions have already been made. Including – a mechanism of long-term dampers has been introduced. In the summer, he covered the main crops. These are wheat, barley, corn. The measures taken were effective, but they were not enough.

At a recent meeting of the Government, the Minister of Agriculture presented additional measures to stabilize food prices. Among them – subsidies for the use of land in turnover specifically for vegetable growing, funds for the expansion of production, technical re-equipment and construction of storage facilities, incentives for transportation and loans and, of course, assistance in the creation of seed-breeding centers.

It is planned to support production in personal subsidiary plots as well. And we are now preparing the relevant regulatory documents.

Strategic session on the pricing environment of world markets and measures to limit its impact on domestic prices

A number of measures have already been taken to help farmers. In particular, the Government has extended the possibility of prolonging concessional investment loans for a very impressive period – up to 12 years. This decision will affect those enterprises that suffered from African swine fever and highly pathogenic avian influenza last year.

The rise in prices is now restrained by the instruments that were formed by the Government. First of all – the damper mechanisms, which I mentioned.

Now we need to discuss the current situation in detail and think about what other steps can and should be taken to support our producers and stabilize food prices.

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

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