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Ukraine Producers Promise To Keep Key Food Prices Stable

Leading food producers' associations in Ukraine have told the government they will keep domestic prices stable for several popular food items to help stave off inflation already hitting neighbouring Russia, unions said on Thursday.

Russia has imposed export taxes on its agricultural products since December in a bid to stabilise rising domestic food prices.

Ukrainian food prices added 7.7% in the first two months of this year compared to the same period in 2020. Bread, eggs, sunflower oil, fruits and milk have seen the biggest rises.

'All parties agreed that, in accordance with the forecast balances of supply and demand, the domestic market is fully provided with basic foodstuffs of domestic production,' the associations said in a statement.

The associations said in a statement they 'will take all necessary measures aimed at stabilising food prices'.

'Goods Of Social Importance'

The government has listed 'goods of social importance' as buckwheat, white sugar, high-grade wheat flour, Ukrainian-made pasta, milk, bread, chicken eggs, poultry, mineral water and butter.

Ukraine is a net-exporter of agricultural products, but the domestic market may experience price pressure with a significant increase in export shipments.

The government has already imposed quotas for wheat and corn exports in the 2020/21 season which runs from July to June.

In October of last year, Ukraine announced plans to abolish import duties on wine produced in the European Union for 2021 as part of its obligations under a trade and association agreement with the bloc.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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