Russia: Labeling of vegetable oils will lead to an increase in the costs of its production

Russia

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Market & Price Trends

Published Jan 17, 2024

Tridge summary

An experiment to introduce voluntary labeling of bottles of vegetable oil will result in an additional cost of 50-70 kopecks per liter for producers, which will be passed on to consumers. The Government of the Russian Federation previously approved experiments on labeling animal feed, veterinary drugs, and vegetable oil from December 2023 to August 2024. However, the Center for the Development of Advanced Technologies believes that the labeling of oil at retail will not lead to an increase in prices.

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Original content

The experiment to introduce voluntary labeling of bottles of vegetable oil within the framework of the “Honest Sign” system will lead to an increase in producer costs of 50-70 kopecks for each liter produced, which will fall on the shoulders of end consumers. The executive director of the Oil and Fat Union of Russia, Mikhail Maltsev, spoke about this. “Since the labeling is aimed at the end consumer, then, of course, the consumer will pay for it on the store shelf,” he said. The Government of the Russian Federation previously approved experiments on labeling animal feed, veterinary drugs and vegetable oil from December 25, 2023 to August 31, 2024. Manufacturers of refined and unrefined sunflower, olive, soybean, peanut, palm, coconut, rapeseed, cocoa butter and others, as well as margarine can voluntarily participate in the project for labeling vegetable oil using the “Honest Sign” system. The work is being carried out as part of the implementation of the strategy to combat the ...

Source: Oilworld