Moscow — Russia must prioritize grain supply to domestic bakeries over export markets, Prime Minister Mikhail Mishustin said Wednesday to support the domestic economy in the face of international sanctions against Ukraine He said he had announced some measures.
Russia and Ukraine are both major wheat exporters, and military conflicts threaten global grain production and supply of cooking oil and fertilizer exports, causing commodity prices to skyrocket and reflect the crisis in the energy market. ..
“This is important for balancing the food market, and we carefully monitor the prices of the most important social commodities, such as foods, including bread,” Mishustin told a government conference.
“Russian grains are in high demand from abroad and their prices are rising. However, we must first provide the raw materials needed for the domestic bakery industry.”
Mishustin did not say whether Russia would try to limit grain exports. This is a step that is likely to deepen the global food crisis and raise wheat prices even higher, but he added that the just-launched spring sowing campaign must take place “uninterrupted.”
The government provides agricultural producers with short-term loans at preferential rates of over 160 billion rubles, so “in the growing demand for food in the global market, we have everything we need for a successful sowing campaign.” ..
In particular, Mr. Misstin said the government would cut taxes on light vehicles, allow some companies not to disclose corporate documents, and eliminate income taxes on deposits. It will also try to help Russian airlines maintain their foreign fleet and retaliate against countries that have banned Russian ships from entering their ports.
“The eddy associated with sanctions will sooner or later end,” Mishustin said.
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