Weekly Price Review: Price of vegetable Oil fell by 0.9% in Two Weeks

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 0.4% to 19,034 soums. The level of average prices was in the range from 17,110 soums per liter in the Andijan region to 20,440 soums in Tashkent.

There is a decrease in 11 regions in prices for vegetable oil, the largest was recorded in Khorezm (by 1.3%), Bukhara (by 0.9%) regions and Tashkent city (by 0.8%).

In terms of districts, the largest decrease in the price per liter of vegetable oil is noted in Shakhrikhan (by 5%), Khiva (by 5%), Akkurgan (by 4.8%), Kibray (by 4.6%), Ulugnor (by 4.3 %) and Zarbdar (by 4.3%) regions.

Prices grew over the week only in 3 regions, in Kashkadarya (by 0.2%), Tashkent (by 0.1%), Fergana (by 0.02%).

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 0.2% to 61,132 soums per kg), potatoes (by 0.4% to 4,673 soums per kg), eggs (by 0.1% to 10,775 soums per ten), wheat flour (by 0.8% to 4,879 soums per kg), sugar (by 0.9% to 8,379 soums per kg).

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

• beef in Surkhandarya (by 1.8%) and Navoi (by 1.4%) regions;
• milk in Khorezm and Bukhara regions (by 0.6%);
• eggs in Navoi (1.6%), Khorezm (1.4%) regions;
• potatoes in Khorezm (6.7%), Syrdarya (5.2%) regions, the Republic of Karakalpakstan (5%);
• rice in Navoi (by 1.2%) and Fergana (by 0.6%) regions;
• wheat flour in in Namangan (by 12.6%) and Kashkadarya (by 0.6%) regions;
• sugar in Kashkadarya (by 4.9%), Surkhandarya (by 2%) regions;

A decrease in average prices for the week in the republic is noted for milk (by 0.2% to 6,089 soums per liter), rice (by 0.04% to 10,165 per kg), vegetable oil (by 0.4% to 19,034 soums) per liter).

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

• beef in the Khorezm region (by 0.7%), Tashkent (by 0.3%);
• milk in the Republic of Karakalpakstan (by 2.4%), Andijan (by 1%), Kashkadarya (by 0.9%) regions;
• eggs in Namangan (by 0.5%), Andijan and Samarkand (by 0.4%) regions;
• potatoes in Jizzakh (by 3.5%), Kashkadarya (by 1.9%) regions, Tashkent city (by 2.5%);
• rice in Kashkadarya (by 0.7%), Jizzakh (by 0.6%), Andijan (by 04.5) regions;
• wheat flour in Tashkent (by 0.3%), Fergana (by 0.03%) regions;
• sugar in Tashkent (by 0.5%), Fergana region (by 0.2%);

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

Rising prices for sugar and wheat flour raise some concerns.

Ruslan Abaturov, CERR