Financial News and Economical Crisis

a sharp rise in retail prices of sugar by controlling the state authorities have responded. Anti-Monopoly Committee (AMC) began its consideration of the case on the fact of price increase of sugar by an average of 30%. “The significant rise in price of sugar may have signs of violation of competition law on the part of market participants” - and explained. about. Chairman of the Antimonopoly Committee of Ukraine Alexander Melnichenko. The Committee had appealed to the Ministry of Economy and Ministry of Agrarian Policy to provide evidence of abuse of monopoly power by market participants.

validity check rising prices and Gostseninspektsiya. Despite the fact that the inspections take place as planned, all the facts unjustified rise in prices for sugar will be revealed before the end of 2010, promised the head of department Natalia Nemodruk. “I appeal to those producers who still hesitate. Unjustified increase in prices will be disclosed sooner or later, and a fine to pay,” - she said. According to calculations Gostseninspektsii, the cost of sugar at retail shall not exceed 8.5 UAH /kg, whereas now it is 11 UAH /kg.

If the state authorities will identify violations, traders will oblige the state to pay the proceeds from illegal price increases, and pay a fine of twice the amount. But, according to Gostseninspektsii, the company wins 90% of such cases in courts of first instance and 50% - the appellate court. Deviate from the company and the mandatory declaration of sugar price rise by more than 1% per month. Instead of registering changes in prices, a new company, which was originally declared an excessive price.

“Now we are together with the Ministry of Economy are preparing legislative changes to force employers to justify the price of social groups of food and first registration”, - said N. Nemodruk.

Market participants consider checking ineffective measure. “The government was the victim of false information that there is enough sugar. Ukraine produced only 1.3 million tons, and at least half that amount already sold. Now the country”s shortage of sugar, which causes inflation” - the chairman of the Supervisory Board “Sugar Union” Ukrros “Sergey Fedorenko.

“Delivery of crude in December, was turned down. According to our data, 80% quota was firm, which has not delivered the products,” - says the owner of one of the sugar mills. From the quota of 260 tonnes of raw sugar in 2009 in Ukraine had been imported only 64 tons of “knock down the price of sugar can only import a quota on imports of raw sugar this year is not divided,” - noted the director consulting company AAA Sergei Infusion.

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Forex - results of the day
Following Friday the value of the MICEX Index reached 1419.42 points, which is 0.92% above the closing level of the previous trading day
Today the level of resistance for the index of the MICEX will mark 1427 points
External background moderately negative for the market of Rd16ussia, America closed lower, Asia traded mostly down
In 2010, investments in the construction of SPC Voŭpa for Olympic facilities will be around 110 million rubles
Last Friday, the euro /dollar continued its decline in the U.S. session, and reached a mark 1.3cb4860