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Wednesday, October 26, 2016

Salt was a product of the sanctions: whether to wait for rising prices

The government expanded the list of products the supply of which is prohibited in our country on August 7, 2014. Now in the list of goods subject to food embargo, included salt (including table and denatured). The measure will take effect from 1 November this year. As hastened to reassure the agriculture Ministry, the ban on the import of salt will not affect the needs of Russians. According to the Agency, “white death” in Russia abound. In the year we produced 3.6 million tons. Indeed, if an ordinary consumer in no danger or all the same it’s time to stock up on salt, “MK” asked the experts.

photo: pixabay.com

The food embargo in Russia applies to goods from the US, Canada, EU countries, Norway, Australia, August 2014. Then they were joined by Albania, Iceland, Liechtenstein, Ukraine and Montenegro. From all these countries to Russia is prohibited to supply fruit and vegetables, milk and dairy products, meat and fish and products made of them.

1 July 2016, Prime Minister Dmitry Medvedev signed a decree on the extension of the ban on the import of foreign products until 31 December 2017.

Now in the list of prohibited goods has been enriched with salt, which entrance to the Russian market will be closed from 1 November this year.

However, as assure of the Ministry of agriculture, the reasons for panic. Domestic enterprises will be able to easily compensate for falling volumes, namely 17.8% of deliveries.

According to authorities, Alexander Tkachev, in Russia annually produces 3.6 million tons of salt. In addition, our businesses are able to increase the volume of its production to 6.1 million tonnes per year.

Recall, the main suppliers of edible salt in 2015 was Belarus and Kazakhstan (69,7% from total import volume), and technical salt — Ukraine (63.1 per cent).

Therefore, the Ministry of agriculture assured the availability of salt will not.

Proposed measures to ban imports of certain food products and agricultural raw materials will not affect the internal needs of the Russian Federation: lost volumes can be compensated by increasing domestic production and shift to supplies from other countries,” — said the Ministry of agriculture.

I see no concerns and experts. “The volume of supply of salt from the domestic companies will have no problems. Can only be a difference in the composition and content of raw materials, but supply disruptions do not threaten. Therefore, the fear of rising prices for salt is not necessary”, — says “MK” leading analyst GK TeleTrade Alexander Egorov.

According to experts, the weighted average for the year as producer prices and consumer prices show an increasing trend in the range of 1.5-1.9 percent.

Sanctions . Chronicle of events

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