FAS: margins on socially important goods decreased by 16%
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Markups on socially important goods in Russian retail chains decreased from 22% to 6%. This was told by the head of the Federal Antimonopoly Service (FAS) of Russia Maxim Shaskolsky. According to him, the re-registration of prices for vital and essential drugs (VED) has reduced the cost of half of the drugs from this list by 30%.
“The measures taken to monitor markups in retail chains for socially important food products … led to a decrease in the aggregate average level of markups for goods of the first price, that is, for the cheapest goods, from 22 to 6% in 11 federal retail chains,” said the head FAS during the VII International Scientific and Practical Conference (quote from TASS).
Mr. Shaskolsky also spoke about the methodology approved by the FAS, which contributes to the return of cheap drugs to the pharmacy assortment, since it can help expand the boundaries of the lower price segment, as well as reduce the risk of shortages of individual drugs.
“In addition to the mandatory re-registration of all prices for vital and essential drugs, which allowed them (prices.— “b”) reduce by a total of 30% for about half of the drugs on this list. According to the new methodology approved by the Federal Antimonopoly Service of Russia, the regions have revised the maximum amount of retail price markups for drugs included in the Vital and Essential Drugs list,” he said.
From March 1, large retailers in Russia restricted up to 5% mark-up on a number of socially important goods, including sugar, vegetables, dairy products and bakery products. Last week, O’Key, Auchan and Atak decided to abandon the voluntary limitation of the trade margin of 5% on sugar due to its shortage in stores.
On February 25, amendments were submitted to the State Duma to regulate the margin on socially significant food products. The bill proposed to allow the establishment of a trade margin on goods in this category no higher than 10%.
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