The zeroing of Russian VAT on imports of wheat, sugar, vegetable oil, and agricultural animals stabilized prices

Kazakhstan's Minister of Agriculture, Askarbek Dzhanybekov, announced at a Security Council meeting on November 26 that the government's measures, including the zeroing of VAT on certain imports and a ban on exports of feed, fertilizers, and fuels, have successfully stabilized prices for socially important goods such as wheat, sugar, vegetable oil, and agricultural animals. This stabilization came in the face of significant price hikes for these goods over the past year, with increases ranging from 8.3% to 90%, largely due to rising fuel and lubricant prices, climate change, and the COVID-19 pandemic.