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|21 aug 2017|
Who Gains Profit from the Rise in Prices for Food Products?
Ivan Tevrizsky 22.10.2007
The rise in prices for the basic kinds of the foodstuffs has stirred up the public of the country, authority, party figures, politicians of a different rank and there are reasons which do not comply with pre-election passions and desires of every possible figures to occupy a cushy job in the State Duma. Inflation for nine months of the current year has made 7,5 %. Obviously, on results of the year it will be above official last year's 9 %. The prices for the foodstuffs have grown, as Federal State Statistics Service informs, on 0.5 % only for the first week of October. Food items have risen in price more than others.
Milk has risen in price for seven percent, eggs - for six, in some regions of Russia sunflower oil has risen in price more than for twenty percent. As a result of such rise of prices which happened far not as it's presented by Federal Sate Statistics Service (vegetative oil has risen in price from 30-35 roubles up to 70-75, that is no way within 20 %), a great bulk of the poorest population of Russia became even poorer and al its attempts to fetch away from a vicious circle of poverty again, were one more time crossed out by one movement of "invisible" hand of the market. Painful searches of a "crazy" began in the power structures as it already used to be after the rise in prices for bread.
The leader of the party "Edinaya Russia" Boris Gryzlov started talking about confederacy of intermediaries in the sphere of deliveries of food stuffs, wishing to allocate criticism to a channel of economic activities and to remove suspicions from the party in power which it heads. Alexey Gordeev being accused by activists from Union of Right Forces resolutely brushed away charges and said that guilty should be punished. The chapter of Antimonopoly committee Artemyev threatened with penalties of million figures. The government hastily organized brain storm and the Union of Right Forces carried out action of bodies which it called "protest of indignant consumers". More than five hundred followers of the party took part in the protest as well as the leaders of the party Anton Bakov, Boris Nemtsov and Masha Gaydar.
But what is noteworthy is that both the government, as a result of "brain" storm and the active workers of the Union of Right Forces participating in the brainless action, came to one "saving" conclusion: to the necessity increase export duties on the products of agricultural producers and decrease duties on food import. The saviors!!!
As Nemtsov told to "Interfax", picketeers "demanded to null import duties on the foodstuffs delivered first of all from the Ukraine and the Baltics", supported introduction "protecting duties on export of the Russian grain" and appealed to the Minister of Agriculture Alexey Gordeev and the chief sanitarian Gennady Onischenko to resign.
A day later the government, on behalf of the successor of Herman Gref the minister of the Ministry of Economic Development Elvira Nabiullina got citizens acquainted with results of brain storm and they wonderfully coincided with the demands of active workers of Union of Right Forces.
The chapter of the Ministry of Agriculture Alexey Gordeev defending himself from attacks of inveterate democrats declared that his department was not guilty in a sharp rise in prices on products. In opinion of the minister, the reformers were the real originators who "made the Russian consumers in the ninetieth years addictive to import", i.e. the very democrats that now were storming hypermarkets. The announcement Gordeev being the member of the supreme council of "Edinaya Russia" made on constituent congress of All-Russia agri-industrial union of employers.
As we see, passions ran high. And in this situation, it is really important to understand the reasons of a rise in prices for food products, not trying to cast the blame on the panicing grandmothers who are buying up salt as it's done by fuck-off economists and political scientists. But first of all let's pay attention to those explanations which were propsed by responsible officials.
The chapter of the Central Bank of the Russian Federation Ignatyev explained splash in inflation by rise in price for products: milk, butter, bread. Ignatyev decided not to explain why they rose in price. Only monetary policy is not connected with it, he is sure. Ignatyev is not going to take any measures to restrain inflation.
In struggle against inflation the Central Bank can, in particular, raise a ratio of obligatory reservation for the banks and interest rates under deposits, Lisovolik says. But now it would only worsen poor situation with liquidity, he marks. A priority of the Central Bank now is - liquidity and not inflation. On Wednesday he lowered ration of obligatory reservation and yesterday - the rate on currency swaps.
Inflation - is not the most terrible in comparison with possible problems of bank system, Tchaikin speaks: "There is no big difference between 8 % and 10 % [rise in prices]". Really! What is the difference if you are plundered on 8 or 10 %? It's possible that there is no difference for successful lawyers. Meanwhile it's significant for poor pensioners. If also take into consideration that their pensions are being increased not according to inflation.
Boosted decrease of inflation in intermediate term prospect is complicated, vice-premier, Minister of Finance Alexey Kudrin admitted in the article published in today's edition "Questions of Economy". The main thing that stirs to struggle against inflation, - a duality of goals of the Central Bank: it is simultaneously responsible for inflation and a rouble exchange rate, Kudrin complains. Kudrin, who not long time ago has approved, that struggle against strengthening of rouble conducts to decrease of inflation, as we can understand, works in the Ministry of Finance as a scrubwoman! And have no possibility to influence the policy of the Central Bank. The only, from his point of view, way to stop "eternal motor" of the rise in prices - "to realize anti-inflation policy which finds credence".
If there could be more trust? "The Central Bank managed to lower rates of strengthening of effective rouble exchange rate this year - it would not grow more than on 5 %", - Ignatyev confirmed Kudrin's idea. Good fellows! Obviously, raw magnates will soon award Ignatyev and Kudrin with a medal "For True Service". Prime-minister Victor Zubkov accused the Ministry of Economic Development in the rise in prices, which financed agriculture insufficiently. "Many mistakes have been done by your predecessors", - he noticed to minister Nabiullina. For the last 7 years animal production grew on 16% while food import - in 3.5 times".
Elvira Nabiullina promised to develop the program of state support of agriculture and to increase financing of landowners, but instead decided to increase export duties and decrease import on agricultural products.
The general director of Institute of Conjuncture of Agrarian Market Dmitry Rylko sings in unison with officials from the government and also absolutely confident: "Really the foodstuffs rises in price not on fault of the officials".
What are true reasons of so fast rise in prices? The reasons are evident, therefore Ignatyev and Kudrin so persistently prove that the monetary policy has no relation to it. There are two reasons. The first is - crisis of the world financial system established on dollars where Kudrin has built in the Russian one, as though he didn't assume that crisis of the American financial policy was inevitable. Probably, he does not know it.
But here you are what Michael Hazin wrote in occasion of August financial crisis on km.ru: "At a total debt of subjects of economy of the USA making up 50 billion dollars (that is only slightly less than all world gross national product making up about 60 billion) and the growth of this debt with 10% speed, new promissory notes turn out to be provided by zero. Meanwhile 10 % from 50 billion are 5 billion. That is the volume of the debt this year has increased on 5 billion that makes about half of gross national product of the USA. What these 5 billion provided with? With new created cost? But gross national product of the USA on 70 % consists of services - which couldn't be taken as debt security. Meanwhile they produce the goods for only two billion - that is more than a half of new debts have no security in general. And in such situation the picture of August crisis in the financial markets of the Europe and the USA becomes clear: when the debts being insufficiently secured (in our case, hypothecary) become even less secured because of mass refusals to return them, the owners of such debts become persons "non grata" on financial markets. Nobody wants to lend them as it is absolutely obvious that their ability to return this money, to put it mildly, is limited. But this situation has also a back. Someone obviously has some superfluous liquidity, or, simply, cash on the account. This money needs to be put somewhere as inflation, which is all the time accelerating, nobody cancelled and this money, in the majority of cases, are not own, they are someone's else. That is taken on credit which is not necessary to return, for example, paying percent to a depositor of the bank. Or paying insurance claim to the injured".
The second reason is defining - internal financial policy which is brightly showed itself in the reaction of the Ministry of Finance and the Central Bank of the Russian Federation to that crisis. They rushed to rescue banks having lowered the ratio of obligatory reservation for banks and interest rates under deposits having opened Stabilization Fund for them. Their priority and they openly speak about it is not a standard of life of millions Russian citizens (what is the difference between 8 or 10 % of inflation) or some agricultural producers but position of hundred bankers.
Read: "Priority of the Central Bank now is - liquidity and not inflation". In this occasion Michael Kazarin on a site "Political Education" wrote: "The point is that banks of the Russian Federation, in general, "fucked up" owing to incompetence (in new language - "nonprofessionalism"). They got abroad foreign signs of foreign cost for "servicing" of OUR population. Instead of to connect population with native to IT (to the population of the Russian Federation) signs of the cost saved up but it. In it, sweet for themselves business, they went too far. For, even compliant and loyal representatives of the Central Bank shyly but nevertheless RECOMMENDED them not to DO so. What is the result? In foreign national economy (behind sea-ocean) were found out shortages ("hypothecary crisis"). "Crum up" began ... They demanded back symbols of the people's collectively-national well-being. At that our home BANKER remained - "dog poor". It was found out that he is not at all financial genius of our collectively-national public economy but ... He is only - local branch of foreign to us financial household. So he knowingly "own Central Bank of the RF didn't listen to... And to that it knowingly has not obeyed the "" Central Bank of the Russian Federation ... And this all - not paying attention to the fact that he ‘pull" from a native citizen usurious percent. The effective rate of percent - he hides from the "client". At that the "debtor" by means of judicial police officer from his last cubbyhole drags out. In a word, he is not in trade of money (=financing) engaged in front of our very eyes. But here, fortunately, we (to be more exact not "we" but THEY!) have A.Kudrin. In fact, what he said to the president about that all? In the essence that to continue usury UNDER THE GUISE OF "financing" of national public economy banks "now" have more than necessary rouble signs! (= "interbank financing rate"..."lowered up to 6%"). It means that holiday continues... And that is not all!
One may ask: where did Kudrin take the rouble mass for all for the "holiday"? Let's see what the president heard in the occasion from the most Important Financier of the country: "the demand for the Russian roubles" we (HE, that is!) had satisfied because "to carry out those operations is possible using gold and exchange currency reserves". As you wish, but even if a native minister, of native to you national economy DOES NOT SHARE with you his high-professional "secrets" ... In fact, both of you have only ONE economy! How else is possible to understand his consultation given to the President of the RF then that ... HE AGAIN THIS MONEY PRINTED".
It's an additional monetary weight which was put in requisition for rescue of bankers and became the main reason of a rise in prices. Nobody cancelled the law of value. And this law inevitably arrange everything. Growth of tariffs for the goods and services of the monopolies scheduled for three years having provided milliard profits to owners of monopolies as well as credit and financial policy of the government, inevitably led to a rise in prices for the foodstuffs. Therefore Kudrin shouts - we are not guilty ... you should trust us more. Lord forbid from those who oblige public benefit in such a way!
Agricultural producers having received nothing in exchange suffered most of all from such expansionist policy of price hike on energy carriers and depreciation of rouble and today they are being tried to be relegated to zero by decrease of import duties by the government together with figures from Union of Right Forces. Competition for domestic agricultural producer is gut, they shout and demand to lower duties on imported food products, meanwhile for the banker it's bad. It is natural that there are also objective reasons for rise in prices. Such as a poor harvest and change of seed of wheat for technical cultures. But we have poor harvests from time to time, they don't influence prices significantly, so it's not the main factor.
Well, what should people wait from all this vanity and "brain" storms? Nothing! Listen what the members of the government declare: "We will try in the nearest two months to stabilize prices". TO STABILIZE and not to lower. It's done. Incomes and profits are fixed. Now it is necessary to calm people down.
Let's recollect, how it was in a situation with increase of the prices for bread. All middle of July of this year government officials, experts and journalists discussed a rise in prices for bread trying to find "crazy" in increase of prices and settle the matter. They settled! The price for bread became even higher. If to look further away it is possible to recollect last year's agiotage around prices for habitation. In August, 2006, in connection with sharp rise in prices for habitation and discontent of citizens, the State Office of Public Prosecutor decided to interfere with situation and put everything into perspective. Officials of the State Office of Public Prosecutor assumed that the builders who caballed were guilty and suggested Federal Antimonopoly Service to check up the given version. The Federal Antimonopoly Service (FAS) checked up the market of construction of habitation in Moscow, Moscow region and Saint-Petersburg and found no price cabal there. That was the end of the story. Thus today there is also no reason to think that the showdown with rise in prices for food products will have different end.
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