April 26, 2013

Russian prime minister calls for action against high retail pork prices 

Russia's Prime Minister, Dmitry Medvedev, has called for the government to deal with high retail pork prices which occurred since the country's membership to the World Trade Organisation (WTO). 

It was announced at a meeting that wholesale pork prices have gone down 30%, which has paved the way for an increase in cheaper imports.

According to Medvedev, the government should support legislative changes to rectify the situation.

First Deputy Prime Minister, Igor Shuvalov, Deputy Prime Minister, Arkady Dvorkovich, and State Duma deputies will work on the proposals, Dvorkovich said.

Meanwhile, the growth of lower-priced imports has put a squeeze on the domestic meat industry, Medvedev said. He noted that the government was discussing about allocating US$1.4 billion to support the farming sector this year, in addition to US$2 billion based on the federal budget.