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19 June, Saturday

Ufa   °

Vegetable oil producers will receive 372 million rubles of federal subsidies in Bashkiria

Economy/Business

Vegetable oil producers in the Republic of Bashkortostan will receive 372 million rubles of federal-state support. Deputy Prime Minister of the Government — Minister of Agriculture Ilshat Fazrakhmanov, explained that the procedure provides for compensation of part of the costs to producers at the rate of 10 rubles per liter of sunflower oil produced and sold in the retail trade organization of its own production at a price not exceeding 95 rubles per 1 liter, including VAT.

"The adoption of this document will contribute to effective containment of oil prices. As a result, the subsidies will have a positive impact not only on the social level on consumers but will increase the financial and economic stability of the enterprises of the oil and fat industry," Ilshat Fazrakhmanov said.

There are two large enterprises for the production of sunflower oil in Bashkortostan. These are "Elevator" LLC and "Chishminsky Oil Extraction Plant" LLC. Republican enterprises produced 335 thousand tons of unrefined sunflower oil in 2020. In the first quarter of 2021, oil production amounted to 83.6 thousand tons.

/translated by Tatiana Aksyutina
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