Russian FAS proposes list of goods for national indicators, includes oil, oil products, chemicals, agricultural products, metals

MOSCOW. April 6 (Interfax) - The Russian Federal Antimonopoly Service has decided on a list of goods to establish national indicators and submitted it to the government.

The next step will be to actually institute these indicators and assess how they can be used in tax and fiscal regulation.

The draft list includes oil and petrochemical industry, agro-industrial and, ferrous and non-ferrous metallurgical products, mineral fertilizers and others, the FAS press service said on Thursday.

According to the list, seen by Interfax, price indicators would be established for goods with customs commodity codes 02 (pork), 03 (frozen fish), 10 (wheat, rye, meslin, barley, corn, sugar, soya, sunflower), 12 (rapeseed), 15 (sunflower oil), 23 (meal), 25 (cement, soda, sulfur), 26 (iron ore), 27 (oil and oil products, coal, etc.), 28 and 29 (inorganic and organic chemical products), 31 (fertilizers), 32 (titanium dioxide), 38 (fatty alcohols and acids), 39 (plastics and articles thereof), 40 (rubber), 44 (timber), 71 (gold, silver, platinum, palladium, rhodium, iridium, ruthenium, precious stones, including diamonds), 72 ( iron and steel products), 74 (copper), 75 (nickel), 76 (aluminum), 79 (zinc) and 81 (cobalt).

"The need to create domestic indicators has arisen because until recently, Russian bourses have used foreign data, including foreign commodity indices. Domestic prices pegged to so-called netbacks create preconditions for overpricing for Russian producers and consumers," the FAS said.

The FAS has also drafted a document that approves the composition of agencies and means for determining national indicators based on the antimonopoly service's exchange committee.