The largest federal and regional retail chains asked to be allowed to limit the sale of a number of goods with a minimum markup per person. About it informs Minpromtorg.
The retailers made this decision in order to minimize the risks of resellers acquiring socially important food products, for which a minimum margin is set.
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The fight against dealers
In the appeal of the companies, it is noted that in a number of regions there were cases when resellers purchased socially significant food products “in an obviously larger volume than necessary for private consumption.” It is clarified that we are talking about speculators who bought tons of goods for subsequent resale.
The Ministry of Industry and Trade explained that retail chains will determine specific goods and parameters within their specialized associations – AKORT and the Union of Independent Networks of Russia. This initiative was supported by the Ministry of Agriculture of Russia.
The issue of stabilizing food prices has been discussed by the Russian authorities since 2021, following which inflation, according to Rosstat, amounted to more than eight percent.
11.1percent
reached food inflation in Russia in January 2022 according to the Central Bank of the Russian Federation
Voluntary price cap decision
On March 1, the Federal Antimonopoly Service (FAS) reported that it had agreed with the largest grocery retailers to limit prices. The mechanism for limiting margins was previously developed by the FAS, the Ministry of Industry and Trade and the Ministry of Agriculture of Russia. Margins on a number of items will not exceed five percent in four categories of socially significant goods – dairy products, sugar, bread and bakery products, as well as vegetables of the so-called borscht set.
At the same time, retailers specified that the list would be updated monthly “due to changing market conditions.” Later it became known that food markups at the level of five percent limit three more large chains of Russian stores. The FAS stressed that the obligation to limit markups is voluntary. At the same time, the department expressed the hope that the products could thus become more accessible to citizens.
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In addition, in early March, Russia expanded the list of cases of using the State Fund’s reserves to stabilize domestic prices for agricultural products. We are talking about a fund that is formed through public procurement from farmers at a low cost. In the event of a noticeable increase in prices, these products are sold in order to stabilize the situation on the market.
On February 24, Russian President Vladimir Putin announced that he had decided to conduct a special military operation to protect Donbass. Most Western countries have responded to Russia’s actions in Ukraine with harsh sanctions.
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