FAS will review the situation with an increase in sugar prices

© RIA Novosti / Pavel to Listenpreise in fotobanka. Archival photoFAS will review the situation with an increase in sugar prices© RIA Novosti / Pavel to Listenpreise the image Bank

The Federal Antimonopoly service (FAS) within 10 days examine the rise of sugar prices in Russia and will report on the results, told reporters the head of Department Igor Artemyev.

«We are now just dealing with this topic. You have to understand that sugar is a commodity, it is quoted on the stock exchange and international stock exchanges, and in this sense we are dependent on market conditions. If a shortage occurs, prices can exchange to grow. They periodically according to the sine wave is rising, then falling. But when they fall, nobody notices, and when they rise, all, of course, worried,» explained Artemyev.

«We are studying the whole story. We need about 10 days to sort out, and we’ll report to you about the reasons. A serious question, we treat this very seriously, » he added.

According to the Ministry of agriculture of the Russian Federation, in October in Russia there was the growth of wholesale prices for sugar. So, as of September 25, the wholesale price of sugar in the southern Federal district (Krasnodar acts as a basis for determining the price) was 32.16 rubles per kilogram (an increase of 22% over the same period of 2017), as of 18 October 35,97 rubles per kilogram (an increase of 50% in annual terms).

Consumer prices, according to the Ministry, has changed less: on September 24, the price was 41,13 rubles per kilogram (an increase of 1.6% in annual terms), on October 15 — 42.7 ruble (plus 5.4 percent).

With the end of September an increase of stock quotes of raw sugar: prices on the new York Mercantile exchange as of 26 September was $ 218 per ton, and on 17 October 303 USD.