State price regulation introduced in Abkhazia

Price regulation in Abkhazia

In Abkhazia, due to prices-rises, state regulation of prices on several food items has been introduced.

Since the end of February, food prices have risen by an average of 50-60% in the republic’s retail chains due to the military crisis in Ukraine. In this regard, the government of Abkhazia has decided to regulate prices for certain food groups.

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This group of goods included vegetable and butter, milk, eggs, sugar, salt, various cereals and baby food.

Regulation involves limiting the amount of markups on goods.

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Thus, the marginal markup level for wholesale sales is set at 10% of the customs value of the goods. Accordingly, the prices of the goods included in the list in the retail network should not exceed 12% of their wholesale price.

In addition, the government, by a separate decree exempted the import of pharmaceuticals and medicines, as well as chemicals and fertilizers used in agriculture, from paying customs duties into the republic.

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