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FAS does not support measures for controlling product prices in Russia

Such measures can result in rapid price growth in future.

28.Aug.14 10:44 AM
By Abigail Richards


FAS does not support measures for controlling product prices in Russia
Federal Antimonopoly Service will not support measures for controlling products prices in Russia. This information has been officially announced on the 26th of August. Such measures were introduced by Ministry of Agriculture in order to stop price increase in the country. FAS have examined introduced tools and are sure that they are of no use.

This statement has been made by Vice Prime Minister Arcady Dvorkovich during his meeting with representatives of retailors and suppliers of food products. Experts of FAS think that such measures are good only for retailors and suppliers chains. On the other hand they are absolutely inefficient. They will lead to a further price growth.

Product price increase is caused by Russian sanctions. They are aimed on limiting the overall volume of products import from the USA and European countries along with Norway and Australia. Ministry of Agriculture offered specific measures in order to control possible price increase in such situation. These measures include making an agreement with regional authorities, retailors and suppliers. The project is based on experience of 2007-2010.

At the same time retailors and suppliers pay attention to the fact that such agreement does not include necessary regulative tools. In other words there will be no effect from such measures in current situation.

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