Russia’s largest retailers will be investigated due to rising egg prices

The Federal Antimonopoly Service of Russia (FAS) will check the largest retail chains because of the rise in prices for chicken eggs. Magnit, Auchan, Perekrestok, Diksy, Pyaterochka, Lenta and others are among those who will be subject to inspections. This is reported by RIA “Novosti”.

FAS will check whether anti-competitive agreements were concluded between retailers, as a result of which the cost of eggs increased. “Prices for chicken eggs are checked when purchasing under long-term contracts and at tenders, information on the volume of purchase and sales,” the department said in a statement.

In December last year, FAS opened criminal cases against four producers of chicken eggs in the Kirov region and in the annexed Crimea. The reason was a sharp increase in holiday prices for its products. The agency suspects them of cartel collusion.

• In 2023, prices for chicken eggs rose significantly in Russia. According to Rosstat, in November they traveled by 15.1 percent, since the beginning of the year – by 35.5 percent, in annual terms – by 40.3 percent. As “Izvestia” notes, in some regions, retail chains have begun to sell eggs individually.
• On December 13, the Government of Russia approved zeroing of import duties on chicken eggs from January 1 to June 30, 2024.
• The President of Russia, Vladimir Putin, announced on December 14 at the final press conference that the high cost of chicken eggs in the country is due to an increase in demand against the background of rising incomes of the population. According to him, the demand exceeded the supply, and the authorities did not have time to take care of the increase in the import of eggs.