Reducing the key rate in theory should lead to a reduction in rates on commercial loans - Dmitry Pirogov
- A reduction in the loan rate also potentially reduces the cost of construction, and therefore the depreciation part in the cost of production. But theory is theory, and in reality banks are unlikely to rush to reduce rates on loans for investors, especially in the context of the beginning of the crisis, - he said. - Direct actions of the regulator will not help the market in any way. Preferential lending programs (repayment of capex) and the amount of rates on commercial loans, including short-term ones, are of great importance. In general, the industry would benefit much more from effectively stimulating demand for final products.
The expert also noted that the growth in milk production and processing depends primarily on the duration of restrictive measures caused by the coronavirus pandemic.
- It is obvious that a significant part of consumers will remain without sources of income, which means that after some time we can predict a drop in effective demand. This will inevitably cause a decrease in purchasing prices for milk with a counter increase in feed prices due to the growth of ruble prices for cereals and a strong foreigncurrency component (vitamins, feed additives, etc.), with a decrease in purchasing prices, this will reduce profitability. Under these conditions, not everyone can afford to increase production", added Dmitry Pirogov.
In his opinion, under these conditions, farms need to establish a system of working with costs without loss of product quality, and use world experience. Moreover, this possibility is now available. “MEGAMIX” is actively developing its consulting program and is ready to share successful cases.
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