Uzbekistan returns to the utopia of manual control of export prices for vegetables and fruits
Fruits
Vegetables
Uzbekistan
Regulation & Compliances
Market & Price Trends
Published Mar 6, 2024
Tridge summary
The Uzbekistan government plans to implement recommended export prices for certain fruits and vegetables, potentially blocking exports if selling prices fall 20% or more below the recommended price. The specifics of the produce to be regulated are yet to be announced. Experts from EastFruit have expressed concerns about the feasibility of such price control, highlighting issues such as frequent price changes, price variations based on product specifics, and a shortage of specialists for international market price monitoring. They also caution about the potential for increased corruption and a negative impact on export conditions.
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
According to EastFruit experts, the Cabinet of Ministers of Uzbekistan published a resolution on February 29, 2024, which causes serious concern for the country’s fruit and vegetable business. Now the government of the country will set recommended export prices for vegetables and fruits, and if the actual selling price is lower by 20% or more, then, apparently, it will not be possible to export the products. At the moment, it is unknown which vegetables and fruits are subject to regulation, because their list must be approved before May 1, 2024. However, according to market participants, the list of prices subject to state regulation will most likely include all the country’s main export items. Interestingly, it is proposed to update the recommended prices once a week, and the mechanism for determining them is spelled out as vaguely as possible. In particular, it is mentioned that even diplomatic missions of Uzbekistan abroad will participate in setting prices on foreign markets. ...
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