OREANDA-NEWS. The ban on the export of grain and sugar from Russia is the right decision to contain prices, Alexander Razuvaev, a member of the Supervisory Board of the Guild of Financial Analysts and Risk Managers, told infox.ru. He suggested that the cost of goods could even be reduced in this way.

If we talk about the decision that was made "on the forehead", it is the right one, because it will help to keep prices down. Because it is not known what the price situation will be. And if there is an excess of supply in the domestic market, then prices will not rise so much, and maybe even fall. In the current situation is very important. But this is what lies on the surface. In fact, food products began to rise in price since 2020, because the Central Banks printed money. And inflation was very serious,” Razuvaev said.

He added that prices would skyrocket around the world if Russia, the largest exporter, did not supply. This can be called a “response”, or you can protect your market, but the decision is absolutely right, Razuvaev believes.

Earlier, Russia introduced a temporary ban on grain exports to the EAEU countries. Restrictive measures will last until June 30 this year. This was reported in the press service of the Cabinet. It also introduces a ban on the export of white sugar and raw cane sugar to third countries until August 31, 2022.