Weekly Price Review: Price of vegetable Oil fell by 1.3% in Three Weeks

Weekly Price Review: Price of vegetable Oil fell by 1.3% in Three Weeks

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 of May 12-19, 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 18,945 soums. The level of average prices was in the range from 17,045 soums per liter in the Andijan region to 20,331 soums in Tashkent.

There is a decrease in 12 regions in prices for vegetable oil, the largest was recorded in Navoi (by 2.2%), Tashkent (by 0.9%), Kashkadarya (by 0.8%) and Bukhara (by 0.8%) regions.

In terms of districts, the largest decrease in prices for a liter of vegetable oil is noted in Navbakhor (by 8.7%), Urtachirchik (by 7%), Chust (by 6.4%), Kurgantepa (by 4.9%), Shurchi (by 4,1%), Karmana (3.5%) districts.

Prices grew over the week only in 2 regions, in Khorezm (by 0.4%) and Jizzakh (by 0.1%).

For 3 weeks, from April 28 to May 19, the average prices for vegetable oil in the republic decreased by 1.3%.

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 in the republic was recorded for beef (by 0.2% to 61,266 soums per kg), milk (by 0.1% to 6,095 per liter), wheat flour (by 0.02% to 4,880 soum per kg), sugar (by 0.2% to 8 393 sum per kg).

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

- beef in Syrdarya (0.7%), Navoi (0.6%), Fergana (0.5%), Kashkadarya (0.5%) regions;

- milk in Tashkent (by 2.5%), Kashkadarya (by 0.4%) regions;

- eggs in Tashkent and Fergana (by 0.4%) regions;

- potatoes in Namangan (1.9%) and Fergana (1.1%) regions;

- rice in the Kashkadarya region (by 0.8%);

- wheat flour in Jizzakh (by 0.8%), Fergana (by 0.2%) regions;

- sugar in Syrdarya (by 1.2%), Jizzakh (by 0.4%) regions and Tashkent city (by 0.4%);

A decrease in average prices for the week in the republic is noted for eggs (by 0.5% to 10,722 soums per ten), potatoes (by 3.3% to 4,519 soums per kg), rice (by 0.2% to 10,141 per kg), vegetable oil (by 0.5% to 18,945 sums per liter).

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

- beef in Andijan region (by 0.3%);

- milk in the Republic of Karakalpakstan (2.6%), Jizzakh (1.3%), Samarkand (1.2%) regions;

- eggs in Jizzakh (by 3.1%), Kashkadarya (by 2.5%), Navoi (by 0.9%) regions;

- potatoes in Kashkadarya (by 9%), Samarkand (by 5.4%) regions, Tashkent city (by 7.4%);

- rice in Andijan (1.4%), Tashkent (0.8%), Fergana (0.4%) regions;

- wheat flour in Namangan, Tashkent (by 0.1%) regions;

- sugar in Khorezm (by 0.7%), Andijan (by 0.4%) regions;

For the week under review, the price environment for basic consumer goods is characterized by relatively low volatility in Uzbekistan. Compared to the previous week (from May 5 to May 12), the rate of increase in prices for beef remained the same, prices for eggs and potatoes went down, while the dynamics of growth in prices for flour and sugar slowed down significantly.

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