18 Apr 2024 11:17

Russian FAS warns producers and retailers against unjustified increases in egg prices

MOSCOW. April 18 (Interfax) - Russia's Federal Antimonopoly Service (FAS) sent a warning to chicken egg producers and retail chains about the inadmissibility of unjustified price increases for the product during the seasonal increase in demand.

"In the first quarter of 2024, there was a decrease in wholesale selling prices in the market. Considering the possible increase in demand for chicken eggs in connection with the upcoming Easter holiday, FAS Russia would like to focus market participants on the need to contain prices for socially significant products in the interests of consumers and to be in compliance with the principles responsible pricing," the department said in a statement.

FAS also recommended that, in the event of a reduction in the cost of eggs, producers make a corresponding change in pricing policy. "The service recommends that retail chains, in the event of a reduction in selling prices by suppliers of chicken eggs, pass the reduced pricing on to consumers," the press release said,

The day before, Rosstat reported that egg prices in Russia remained virtually unchanged from April 9 to April 15, decreasing only 0.04%. Thus, the decline slowed once again from 0.2% the previous week.

Egg prices in Russia have fallen 4.92% since the start of the year.