The Russian ban on the supplies of food products established in 2014 contributes to development of domestic agro-industrial complex and should be extended after the end of its effective term (December 2017), the Minister of Agriculture of Russia Alexander Tkachev declared.
“In order to further promote import substitution, increase the competitiveness of the domestic production of agricultural products and ensure the safety, the Ministry of Agriculture of the Russian Federation considers it appropriate to extend the special economic measures after 2017”, said the minister.
He added that the current economic counter-sanctions did not cause any food products deficit on the domestic market, and had a positive impact on the development of the Russian agricultural complex.
To date, the situation on the consumer market is characterized as stable. In the current year, the growth rates of consumer prices for food products became significantly lower compared with last year, due to successful replacement of the separated volumes of domestic production of food products, as well as the limited effective demand of the population, said Tkachev. (APK-Inform/Business World Magazine)