Feletti: the Government makes a great effort to return the price of wheat to values prior to the Russia-Ukraine conflict
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The Secretary of Domestic Trade, Roberto Feletti, assured on Wednesday that with the wheat trust “the Government makes a great effort to set the price of a ton of wheat for the Internal market at $25,000, which is the price it had in January”, before the start of the war between Russia and Ukraine at the end of February.
In a press conference, Feletti specified that “the Government commits between US$ 350 million and US$ 370 million to support a ton of wheat at $25,000”, which will allow “offering $1,150 for a 25-kilo bag of industrial flour, which is used 65% in the bread industry and the remaining 35% in other baked goods such as fresh pasta and others.”
“I want to thank Minister Domínguez for raising soybean meal and oil withholdings, with which this trust is financed”, said the official.
“It is a partial stabilization measure that we are going to implement starting in April and we are going to see its results in the next two months”, said the head of Internal Trade regarding the initiative.
In a world scenario marked by a sharp rise in the price of food, and in particular of wheat, there is no room for speculative attacks that put our people’s table at risk.
That’s why from the Government we established a series of tools ? pic.twitter.com/EIf4qMZDP6
— Roberto Feletti (@RobertoFeletti) March 23, 2022
However, Feletti warned about some difficulties in its implementation, since “now it will be necessary to force agreements” with local businesses such as bakeries and gastronomic establishments to lower or sustain some prices.
“We want that if the price of flour goes back, we recover the agreement we had with the bakers and keep the kilo of bread between $220 and $270”, said the official.
Finally, he announced that next week they will meet with local businesses.
The Secretary of Commerce will keep a registration of formalization in which bakers and mills must submit affidavits to declare how many bags of flour they buy or sell, it was detailed.
