Opening the commission's meeting, First Deputy Prime Minister Viktor Zubkov said: "The commission has proved its effectiveness this year and helped fill the consumer market with food products."

"This was due primarily to the recovery of domestic production," Mr Zubkov continued. "The commission played an active role in elaborating the government's anti-crisis measures. Owing to the timely adoption of these measures, the agriculture sector has overcome the consequences of the global financial downturn of 2008-2009 and the anomalous drought of 2009-2010. The grain harvest was large – 92 to 93 million tonnes, allowing us to meet domestic needs and export 24 million tonnes. The record harvest of sugar beets – about 47 million tonnes – has fully met the demand of the domestic sugar producers and reduced their dependence on world prices. Poultry production increased by over 300,000 tonnes (12% growth), while pork production increased by 100,000 tonnes (10% growth). In the first 10 months of this year, the agro-industrial sector registered growth of about 20%."

Mr Zubkov believes that prompt adoption of the commission's proposals on measures of customs and tariff regulation was the second major factor in curbing retail prices. This year the government has temporarily reduced import customs duties on individual types of grain, vegetable, fruit and raw sugar.

"The coordinated implementation of these measures has also produced tangible results," Mr Zubkov emphasised. "The growth rates of food prices have fallen by over three times as compared with the past year. Food prices have increased by a mere 4.1%-4.2% this year (as compared with last year's 12.9%). The stabilisation of the food market has played a major role in reducing general consumer inflation to 6%," he said.

"I'm convinced that a finely tuned decision-making process accompanied by monitoring will allow us to promptly prevent and counter price hikes in the future," Mr Zubkov said in conclusion.