The Federal Antimonopoly Service (FAS) issued a letter to major retail networks requesting a voluntary cap on chicken egg price increases at no more than 5% through March 2024. This step is reported by RBC as part of ongoing monitoring of price dynamics in the egg market.
Companies affiliated with the Russian Association of Independent Chains and the Association of Retail Trade Companies received the FAS communication. It was confirmed by X5 Group, which operates Chizhik, Pyaterochka, and Perekrestok stores, along with another large chain, that they had received the letter.
The proposal covers all varieties of chicken eggs, including those bought from suppliers under long-term contracts. The directive also emphasizes avoiding actual price increases for eggs secured through tender processes.
FAS linked the recommendation to a notable rise in egg prices that has raised consumer concern. The topic was on the agenda of a meeting of the FAS trade working group on November 21, with participation from retail chains and industry associations to discuss appropriate actions.
Market participants are asked to indicate their agreement or disagreement with the proposal byMonday, December 4. Additionally, by December 6 they should report to the regulator the share of egg volumes purchased under long-term contracts and those bought via tenders for November, naming specific suppliers. FAS has not yet published any answer regarding potential consequences if networks do not voluntarily move to limit price marking.
Official statistics from Rosstat show that retail egg prices rose sharply in October 2023, contributing to concern about affordability. The October 2023 national average for egg prices increased by 23.9% year over year. In October 2023, prices varied by region, with increases ranging from 1.5% to 10% in 18 regions, 10% to 20% in 52 regions, and 20% to 39.9% in 14 regions. The Kamchatka Territory was the only region where prices remained steady.
Earlier reports indicated that stores might have the option to distribute food more broadly in some situations, which could influence how price controls and voluntary measures are implemented across networks.