News

FAS called on producers and chains in Russia to curb egg prices before Easter

Russia
Regulation & Compliances
Market & Price Trends
Published Apr 19, 2024

Tridge summary

Ahead of Easter on May 5, the Federal Antimonopoly Service (FAS) of Russia has called on food egg producers and retail chains to prevent price increases despite the traditionally high demand during the holiday. The FAS is keeping an eye on price trends and profitability, highlighting a decrease in wholesale prices in the first quarter but cautioning against potential price surges. Retailers and manufacturers are encouraged to revise their pricing strategies to reflect any cost reductions and ensure these benefits are passed on to consumers. The FAS also emphasized the importance of complying with antimonopoly laws, warning of actions against any violations. Notably, egg prices have been on a downward trend, supported by strategies like boosting domestic production, capping voluntary markups, and allowing duty-free imports from allied nations.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The Federal Antimonopoly Service (FAS) of Russia sent letters to food egg producers and retail chains, urging them to curb prices for this product on the eve of Easter (this year is celebrated on May 5 - ROSNG). This was reported in the press service of the regulator. This decision was explained by the traditionally growing demand for these products before the holiday and the need to meet the interests of consumers and comply with the principles of responsible pricing. The service reminded that eggs are a socially important type of food. Now the department is monitoring the weighted average wholesale and selling prices for this product, as well as the dynamics of its cost and profitability of sales. It is noted that in the first quarter of this year, wholesale selling prices for products decreased, but due to a future holiday event, a sharp rise in price cannot be ruled out against the backdrop of rush demand. In this regard, the regulator recommends that retailers and ...
Source: Rosng
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