Russian Ministry of Agriculture plans to reallocate dairy sector subsidies in 2014
Russian Ministry of Agriculture does not plan to disclaim subsidies per liter of commercial milk, though it may reallocate a part of available funds in case additional budgetary appropriations are not allocated.
This is according to Dmitry Yuryev, Deputy Minister of Agriculture.
At milk producers’ request, the Ministry plans to increase the investment loans subsidizing period from 8 to 15 years with compensation of interest payment at 100% of key interest rate. The Ministry considers it necessary to approve changes into this scheme either before 2013 is out or in the beginning of 2014. As one of the possible sources the Ministry may cut the milk subsidies (per liter). According to the official around 8 bln rubles is provided for liter of milk subsidies. In case the above mentioned scheme is approved it may be cut to 1.7 bln rubles.
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