Weekly Price Review: Price of vegetable oil fell by 0.5%

Weekly Price Review: Price of vegetable oil fell by 0.5%

Ensuring the stability of food prices is seen as one of the main functions of the state in the framework of ensuring food security. In the context of global crisis, it is extremely important the domestic market’s resilient to price shocks.

The Center for Economic Research and Reforms (CERR) continuously monitors prices in the domestic market. In particular, an analysis of changes in prices for basic food products was carried out in the context of regions, districts and cities for the period from April 28 to May 5, 2021.

Focus on vegetable oil

The price conjuncture of vegetable oil has recently been under the close scrutiny of the public. The recent surge in prices caused by the increased demand for this product in the external market and as a consequence, the desire of entrepreneurs to get super-high profits led to the introduction of market-stabilizing measures by the state. Monitoring shows that taken actions are already yielding results.

The average price in the republic by the end of the week for a liter of vegetable oil decreased by 0.5% to 19,104 soums. The level of average prices was in the range from 17,218 soums per liter in the Andijan region to 20,596 soums in Tashkent.

There is a decrease in 9 regions in prices for vegetable oil, the largest was recorded in Navoi (by 2.4%) and Samarkand (by 2.2%) regions.

In terms of districts, the largest decrease in the price per liter of vegetable oil is noted in Vabkent (by 8.3%), Turtkul (by 6.3%), Dzhambai (by 5.5%), Elikalinsky (by 5.4%), Pakhtachi (5.1%), Mirzachul (5%) regions.

Prices grew over the week only in 5 regions, the greatest in Syrdarya (by 1.6%), Tashkent regions and Tashkent (by 0.7%).

The decline in prices for vegetable oil indicates a stabilization of the situation in the domestic market.

Below are the price changes for beef, milk, eggs, potatoes, rice, wheat flour, sugar.

During the period under review, an increase in average prices republic was recorded for beef (by 0.4% to 61 thousand soums per kg), potatoes (by 1.6% to 4,655 soums per kg), eggs (by 0.1% to 10,761 soums per ten), wheat flour (by 0.1% to 4,839 soums per kg), sugar (by 0.5% to 8,309 soums per kg).

In the context of regions, the largest price increase was recorded for:

  • beef in Navoi (1.7%) and Surkhandarya (1.8%) regions;
  • milk in Tashkent (by 0.8%);
  • eggs in Tashkent region (by 1.1%), Karakalpakstan (by 0.8%);
  • potatoes in Khorezm (by 7.9%), Tashkent (by 6.1%), Samarkand (by 4.2%) regions;
  • rice in Syrdarya (by 0.9%) and Tashkent (by 0.8%) regions;
  • wheat flour in Andijan (by 3.5%) and Khorezm (by 1.4%) regions;
  • sugar in the Surkhandarya region (by 3.3%), Tashkent (by 1.8%);

A decrease in average prices for the week in the republic is noted for milk (by 0.2% to 6,102 soums per liter), rice (by 0.1% to 10,169 per kg), vegetable oil (by 0.5% to 19,104 soums) per liter).

In the context of regions, the largest price reduction was recorded for:

  • beef in Tashkent (by 0.5%), Karakalpakstan (by 0.2%);
  • milk in Bukhara (by 2.4%), Samarkand (by 2.2%) regions, Karakalpakstan (by 2.3%);
  • eggs in Jizzakh (by 1.4%), Andijan (by 0.7%), Samarkand (by 0.5%)
  • potatoes in Andijan (by 2.7%), Bukhara (by 2.2%);
  • rice in Andijan (by 1.2%), Navoi (by 0.4%) regions, Tashkent (by 0.8%);
  • wheat flour in Namangan (by 3.1%), Navoi (by 0.8%) regions;
  • sugar in Samarkand (by 2.3%), Khorezm (by 0.8%), Navoi (by 0.5%);

Thus, for the under-review week, the price environment for basic consumer goods is characterized by relatively low volatility.

The rise in prices for potatoes in Andijan and Bukhara regions cause some concern.

Ruslan Abaturov, CERR

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