The Ministry of Industry and Trade did not see any reasons for rising food prices in the near future

The Ministry of Industry and Trade sees no reason for food prices to rise in the near future. This was stated by Deputy Minister of Industry and Trade Viktor Evtukhov on the air of the Russia 24 TV channel.

“Yesterday, we once again spoke with colleagues from related industries that in the near future we do not see any indications that food prices can go uphill in our country,” noted Evtukhov (quote from TASS).

He also admitted that prices, including for the “meat group”, after the end of the holiday season and the summer period, by autumn, may “have a downward trend.”

The day before in the Ministry of Industry and Trade reportedthat retail chains in the regions of Russia, like large retailers, will begin to limit prices for socially significant goods. We are talking about four categories of goods – dairy products, bakery products, sugar and seasonal vegetables. According to Yevtukhov, this decision allows to maintain “a comfortable combination of cost / quality of goods in the consumer market.”

August 4 Vedomosti wrotethat the value of live pigs and key cuts in the wholesale sector has risen to an 8-year high. Since the beginning of last week, commercial pork has risen in price by 7% to 148 rubles. per kg, which is 20% higher than in the same period last year, and the cost of the neck increased by 9% to 500 rubles. per kg (40% more expensive than in the same period in 2022). Analytical agency AD Libitum believes that the sharp acceleration in price growth is due to the lack of volume to meet demand in the large wholesale and meat processing channel, and admits that producers may continue to raise prices until mid-August.

In addition, there was an increase in chicken prices. According to AD Libitum, the price of a broiler carcass in the week ending August 6 increased by 4% to 192 rubles. per kg, which is 38% higher than a year earlier, fillets – by 3% to 325 rubles. per kg (+42% yoy).