Russia Began To Beg For Butter From Turkey And The UAE

After the strongest price spike in 17 years.

The Russian authorities turned to “friendly countries” for help due to the crisis in the butter market, where prices have soared by almost 26% since the beginning of the year.

For the first time in history, the United Arab Emirates began to supply oil to Russia, the press service of the Rossellkhoznadzor reported. According to the agency, since October 18, 90 tons of oil from the UAE have been imported into the territory of the Russian Federation. Since October 27, oil has also been imported from Turkey, and in addition, negotiations have been held on purchases in India and Iran, the Ministry of Agriculture told Izvestia.

The rise in oil prices accelerated sharply with the beginning of autumn: in September it rose by 5.07%, and from October 1 to October 28 — by 6.58%. This jump was a record since October 2007, when oil became more expensive by 12.7% in a month. The annual increase in oil prices by the end of October reached 25.7%, and cases of theft increased in supermarkets in large cities, including Moscow, St. Petersburg and Yekaterinburg.

The "fire" in the oil market broke out due to the fact that imported fats rose in price, factories had difficulties with servicing imported equipment and a shortage of raw materials, lists the deputy chairman of the board of Rusprodsoyuz Dmitry Leonov. In addition, there is a shortage of personnel and an increase in the Central Bank rate, he notes. At the end of October, several large plants partially or completely suspended the production and shipment of oil. Among them — the company H&N (Prostokvashino brand), Milkom, Almetyevsk dairy, Kungursky, Northern Milk, as well as Irbit Dairy Plant.

An urgent meeting on the oil situation was held on October 31 by Deputy Prime Minister Dmitry Patrushev. He gave officials two weeks to stabilize prices. Deputy Speaker of the State Duma Boris Chernyshov proposed to fix the cost of oil in retail chains, which, meanwhile, took control of the FAS.

The authorities are taking measures to bring oil from abroad, the Ministry of Agriculture told Izvestia. According to the source of the publication, the possibility of not imposing duties on such oil is being considered — they may be canceled for products of "friendly" countries outside the EAEU.

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