Ministry of Industry and Trade: regional retailers will limit margins on some products

Trade networks in the regions of Russia will begin, like large retailers, to limit prices for socially significant goods, informed Interfax with reference to the press service of the Ministry of Industry and Trade.

The ministry discussed this issue with retailers and interested departments. We are talking about four categories of goods – dairy products, bakery products, sugar and seasonal vegetables.

Deputy Minister of Industry and Trade Viktor Yevtukhov noted that the decision taken earlier by large chains to voluntarily limit margins on these categories of goods allows maintaining “a comfortable combination of cost / quality of goods in the consumer market.”

The official also pointed to the growth of retail trade in June by 10% in annual terms and 1.5% in monthly terms. In total, its turnover amounted to 3.8 trillion rubles. According to the results of the first half of the year, the indicator grew only by 1.1% year-on-year, amounting to 21.7 trillion rubles, but “the upward trend is stable from month to month,” Yevtukhov added.

In March 2022, retail chains “Magnet“,”OKand owned by Auchan Retail “Auchan” and “Atak” the first of the retailers briefed FAS on readiness to limit margins on socially important products at the level of 5%. For example, Magnit then reported that the margin limit would affect 304 commodity items in 27 categories included in the basic food basket.