Russia considering price limits for domestic food producers

After banning half of its agricultural imports from the West this past week, Russia is now considering a price control agreement with domestic food producers to avoid speculative price hikes that could affect inflation.

The International Trade Center, a joint venture between the U.N. and WTO, states that Russia imported $17.2B of food from the countries targeted by the ban, of which $9.2B was in the affected categories.

Agriculture Minister Nikolai Fyodorov announced that the ban will cause a short-term spike in inflation, but said he saw no danger in the medium or long term due to new future substitutes.


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Comments (6)
  • Ethics-
    , contributor
    Comments (157) | Send Message
    Back to planned economy I see
    10 Aug 2014, 07:00 AM Reply Like
  • haaggus
    , contributor
    Comments (78) | Send Message
    Return of the U.S.S.R. Putin trying to make Russia the famine capital of the world again.
    10 Aug 2014, 07:12 AM Reply Like
  • capitolp
    , contributor
    Comments (716) | Send Message
    @haaggus, You don't know what you're missing until you had a bowl of Grandma Natalya's rock soup, it's the extra rocks that makes it so good.
    10 Aug 2014, 10:17 AM Reply Like
  • RM13
    , contributor
    Comments (1264) | Send Message
    Awesome!!! Commie part II. This will surely integrate power under Putin - you either line up with him or you leave.


    Then again, while this may be positive to Putin in short term, too many people in Russia have a stake in it being part of world economy - he can only push so far before oligarchs wallets start feeling the heat.
    10 Aug 2014, 09:48 AM Reply Like
  • FreeMktFisherMN
    , contributor
    Comments (463) | Send Message
    Pot calling kettle black, much? Last I checked US .govt props up prices on behalf of farmers, just like it unconscionably did in the 1929 aftermath for the Farm Bureau even as people were starving.


    Trade wars are only increasing, and sanctions and tariffs are effectively acts of war ( by definition actually), and as is said, 'when goods stop crossing borders, soldiers will.'


    Both the East and West statist entities are corrupt and intervene abroad and meddle in sovereign politics.
    10 Aug 2014, 01:26 PM Reply Like
  • hanakookie
    , contributor
    Comments (787) | Send Message
    1929 really at last I thought it was 2014. Prices controls always start out as short term. And then the hoarding starts and then the prices go up. The cycle repeats itself til you know what. The oligarch are going to love it because as long as they have market access out of mother Russia then they'll be able to keep there asset base from being inflated away.
    10 Aug 2014, 11:06 PM Reply Like
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