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Business and the Government agreed on stabilizing prices for socially significant goods

18/ 03/ 2021
  At the beginning of the pandemic, there was a significant increase in prices for various goods across some regions of Ukraine. According to the Antimonopoly Committee of Ukraine, for the first three weeks of March 2020, prices for buckwheat increased by more than 50%, millet – by 24%, sugar by 16%, potatoes by almost 60%, prices for onion and carrots doubled, etc. After studying information on purchase and retail prices for cereals, bread, sugar, flour, the most popular meat types, vegetables, the AMCU recommended lowering the markup on socially significant goods to help reduce prices. The companies agreed to such a step despite the losses to their activity. On April 22, 2020, the CMU Resolution №341 “On Measures to Stabilize Prices for Goods of Significant Social Significance, Anti-Epidemic Goods” was adopted. Given the practice of price declaration procedure, companies have repeatedly appealed to the Ministry of Economic Development with a proposal to consider amending Resolution №341. In March 2021, the Mineconomy held a series of consultations with associations of producers and retailers in order to prevent significant price fluctuations in food markets of social significance. The European Business Association, Ukrainian Retail Association, Union of Poultry Farmers of Ukraine, Ukroliyaprom, National Association of Sugar Producers of Ukraine, Union Millers of Ukraine, Ukrainian bakers association, Ukrkhlibprom participated in discussions with the Ministry. All parties agreed that the domestic market is fully supplied with basic domestic food in accordance with the forecast balances of supply and demand. Furthermore, the business confirmed its full readiness to provide the domestic market with food in the required volumes in a stable and uninterrupted manner. However, realizing the need to stabilize the price situation in major markets, the companies assured that they will take all necessary measures to stabilize the prices of food products of significant social significance. We hope that the Government will also abide by the agreements and will amend the CMU Resolution №341. For reference The CMU Resolution №341 of 22.04.2020 established the following list of food products of social significance: buckwheat, granulated sugar, premium wheat flour, pasta of domestic production (vermicelli from premium wheat flour), pasteurized fat milk 2.5 %, rye-wheat bread, chicken eggs of category C1, poultry (chicken carcass), still mineral water, butter with 72.5% of fat content.   Be the first to learn about the latest EBA news with our Telegram-channel – EBAUkraine.  

At the beginning of the pandemic, there was a significant increase in prices for various goods across some regions of Ukraine. According to the Antimonopoly Committee of Ukraine, for the first three weeks of March 2020, prices for buckwheat increased by more than 50%, millet – by 24%, sugar by 16%, potatoes by almost 60%, prices for onion and carrots doubled, etc. After studying information on purchase and retail prices for cereals, bread, sugar, flour, the most popular meat types, vegetables, the AMCU recommended lowering the markup on socially significant goods to help reduce prices. The companies agreed to such a step despite the losses to their activity.

On April 22, 2020, the CMU Resolution №341 “On Measures to Stabilize Prices for Goods of Significant Social Significance, Anti-Epidemic Goods” was adopted. Given the practice of price declaration procedure, companies have repeatedly appealed to the Ministry of Economic Development with a proposal to consider amending Resolution №341.

In March 2021, the Mineconomy held a series of consultations with associations of producers and retailers in order to prevent significant price fluctuations in food markets of social significance. The European Business Association, Ukrainian Retail Association, Union of Poultry Farmers of Ukraine, Ukroliyaprom, National Association of Sugar Producers of Ukraine, Union “Millers of Ukraine”, Ukrainian bakers’ association, Ukrkhlibprom participated in discussions with the Ministry. All parties agreed that the domestic market is fully supplied with basic domestic food in accordance with the forecast balances of supply and demand.

Furthermore, the business confirmed its full readiness to provide the domestic market with food in the required volumes in a stable and uninterrupted manner.

However, realizing the need to stabilize the price situation in major markets, the companies assured that they will take all necessary measures to stabilize the prices of food products of significant social significance. We hope that the Government will also abide by the agreements and will amend the CMU Resolution №341.

For reference

The CMU Resolution №341 of 22.04.2020 established the following list of food products of social significance: buckwheat, granulated sugar, premium wheat flour, pasta of domestic production (vermicelli from premium wheat flour), pasteurized fat milk 2.5 %, rye-wheat bread, chicken eggs of category C1, poultry (chicken carcass), still mineral water, butter with 72.5% of fat content.

 

Be the first to learn about the latest EBA news with our Telegram-channel EBAUkraine.

 

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