Food price growth unavoidable in Belarus – vice premier

<p> MINSK, Nov 23 - PrimePress. It is impossible to avoid rising food prices in Belarus due to the situation on the global market, Vice Premier Alexander Subbotin told reporters on 23 November, the government’s press-service reports. </p> <p>   </p> <p> “If we start stifling prices on the home market while prices in the Russian Federation are more attractive, even ordinary people will start moving the food to Russia. There will be spillover in any case. We don’t have a border between Belarus and Russia after all,” he said. </p> <p>   </p> <p> Apart from that, the goods that affect the end value of agricultural products are getting more expensive, including fertilizers, some imported components, spare parts, and other things. </p> <p>   </p> <p> “Prices for everything are getting higher due to objective reasons. This is why we cannot slow down price growth without damaging interests of the producers. But there are ways we can offset these price hikes such as individualized support for low-income Belarusians, limits on profit margins of retail chains. The government is aware of all these mechanisms and actively uses them. And we are trying to slow down price growth as much as possible,” Subbotin said. </p> <p>   </p> <p> In his words, there definitely will be no shortages, “because we make many times more food that we need”. However, rising prices for food in the global market have another effect on Belarus. In addition to satisfying the domestic demand the country exports a lot of food. Belarus President Alexander Lukashenko wants to increase food export up to $7 billion. </p> <p>   </p> <p> Subbotin believes it is difficult to achieve this goal. In January-September 2021 Belarus’ food export was already close to $4.7 billion, 112.6% as against January-September 2020. Reaching $7 billion will depend on the market situation. “But we will try to do it as fast as possible. I don't want to make projections. We may achieve this figure within two years or three years. We are working on it,” he said. </p> <p>   </p> <p> Belarusian producers are raising export volumes by exporting more and by charging more for their products. “Prices are really getting higher all over the world. The United Nations Organization mentions it, all the agrarian agencies do. Prices for bread, meat, milk, and ordinary grain. Prices are rising unbelievably fast in comparison with last year. Certainly, it has helped our export a lot but we've also increased the physical volume: more milk, cheese, meat, and meat products are exported,” Subbotin said. </p> <p>   </p> <p> As previously reported, inflation in Belarus in October 2021 stood at 0.9%, January-October - 8.5%. In October 2021, consumer prices rose by 10.5% year on year; January-September 2021 - by 9.3%. October 2021 saw a 10.5% year-on-year increase in prices of socially important goods in Belarus, according to the Ministry of Antimonopoly Regulation and Trade’s (MART) overview of the price situation on the consumer market in October 2021. During 2021, public authorities have been administering the pricing of certain groups of goods. End </p> <p>   </p>

2021-11-24

Primepress