Belarus extends price control on staples till year end

15 Октября’20

The state regulation of prices for staple goods in Belarus has been extended till 31 December. The appropriate resolution No.65 of the Belarusian Ministry of Antimonopoly Regulation and Trade of 12 October 2020 was published on the National Legal Internet Portal on 15 October, BelTA has learned.

The list of staple goods includes 18 items: butter, sunflower oil, wheat flour, salt, some types of groats, bread, fresh and frozen fish, cheese, milk, eggs, baby food, and black tea. The maximum profitability threshold for manufacturers must equal the actual profitability rate that was registered in January-February.

If the actual profitability was below 10%, then the threshold is set at 10%.

For fresh potatoes, beetroot, carrots, cabbages, onions, cucumbers, tomatoes (with exception of calibrated, washed, or packaged vegetables), and apples, the profitability threshold depends on the actual profitability in 2019.

For fresh cucumbers and tomatoes grown in greenhouses, the profitability threshold is limited by the profitability rate that was registered in the previous vegetation period.

The maximum profitability threshold for importers was set at 10%.

The maximum wholesale markup and the maximum trade markup vary from 15% to 30% depending on the product

Legal entities and individual entrepreneurs are required to adjust prices for staple goods, that had been set before the resolution entered into force, in line with the resolution.

The document took effect on 15 October.

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