The decline in egg prices in Russia in March accelerated to 2.3%

Published Apr 11, 2024

Tridge summary

In Russia, there has been a notable decrease in consumer prices for chicken eggs by 2.3 percent last month, contributing to a 4.7 percent reduction since the beginning of the year, despite a 45.3 percent annual increase. Poultry meat prices also fell slightly by 0.2 percent last month, with a 3.8 percent decrease since the year started. These changes are a result of the Russian authorities' efforts to stabilize the market through measures such as duty-free imports from allied countries, agreements to lower markups, and boost production. However, the effectiveness of these measures for poultry meat has been limited, and there have been challenges with monopolistic price collusion, which the Federal Antimonopoly Service (FAS) has addressed.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Last month of this year, consumer prices for chicken eggs decreased by 2.3 percent, Rosstat reported. This is 1.7 percent more than the decline in February, when it occurred for the first time after months of rising prices. Overall, since the beginning of the year, goods have fallen in price by 4.7 percent. However, in annual terms, this product was still 45.3 percent more expensive. The statistical department also provided data on another social product – poultry meat. The rate of decline in prices for it, on the contrary, decreased – from 1.2 percent in February to 0.2. Since the beginning of the year as a whole, it has fallen in price by 3.8 percent versus 1.2. As a result, the rate of increase in price of this product decreased to 27.8%. The gradual drop in prices for eggs and poultry meat is associated with measures taken by the Russian authorities to stabilize the situation on the domestic market for these products. The first of them is the opening of imports of these ...

Source: Rosng