Russia increased sharply dairy products and palm oil import
In the context of Russia’s WTO accession import of dairy products and palm oil has sharply increased. According to Ilya Shestakov, the Deputy Minister of Agriculture of the Russian Federation, this fact is unacceptable, the Ministry plans to take additional measures to protect local producers.
Increased import is good for customers, as market competition grows, prices – decrease. According to the National Dairy Producers Union retail prices for dairy products fell from the beginning of the year by 3-5%. But the increasing import can result in undesirable solutions: Russian producers competing with foreign suppliers are forced to lower prices for their products in the context of raw milk deficiency. For example palm oil imports grew 48%, this presses local production. Deputy Minister assured the Ministry controls the market situation.
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