Belarus introduced state regulation of prices for socially significant goods for 90 days


Belarus introduced state regulation of prices for socially significant goods for 90 days

04/21/2020

This measure is aimed at preventing overpricing of prices for socially significant goods and maintaining conditions for the commodity security of the consumer market of the Republic of Belarus

Decree of March 15, 2020 No. 30 in Belarus introduced state regulation of prices for certain socially significant goods for up to 90 days. The list of goods included such items as meat and meat products, milk and dairy products, cereals, bread, fish, etc., the press service of the Ministry of Antimonopoly Regulation and Trade (MART) reports.

The regulation of prices for socially significant goods will be carried out by establishing:

for manufacturers:

the maximum maximum rate of return used to determine the amount of profit to be included in the selling prices of producers for socially significant goods sold on the territory of the Republic of Belarus in the amount of:

no more than the actual level of profitability of products sold, which developed in January – February 2020 for the corresponding commodity position, if this level amounted to more than 10 percent;

no more than 10 percent, if the actual level of profitability of products sold in January – February 2020 for the relevant commodity item was less than 10 percent;

for importers:

maximum importer maximum allowance of 10 percent;

for organizations engaged in wholesale and retail trade:

maximum maximum trade allowances (including wholesale allowance) to selling prices of producers (importers) for socially significant goods, determined in the amount recommended by part two of the Recommendations to ensure compliance with the provisions of the Doctrine of National Food Security of the Republic of Belarus for 2020.

See also: EAEU countries zeroed import duties on vegetables and cereals

This measure is aimed, first of all, at preventing overstatement of price increases for socially significant goods and maintaining conditions for the provision of goods to the consumer market of the republic.

At the same time, Government Decision No. 184, which previously introduced restrictions on increasing prices (tariffs) for all goods (services), is canceled.

Please note that the pricing of socially significant goods is carried out taking into account market conditions, but not higher than the restrictions established by the resolution.

This resolution comes into force after its official publication and is valid for 90 days.

The entire list of products for which price regulation and the size of trade allowances are introduced can be found here.

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