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.
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.
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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