Retailers suggested FAS to limit markups on basic products – RBK

X5 Group and “Magnit” proposed to limit markups on basic products to no more than 10%

The FAS said that they reveal inflated prices in some networks, so the department invited retailers to work out a mechanism for “responsible pricing”

Retail chains X5 Group and Magnit have proposed to the Federal Antimonopoly Service (FAS) to limit the mark-up on socially important products by no more than 10% until the end of 2022. About this “Kommersant” reported in these companies.

As stated in X5, the measure will affect more than 20 product categories, markup restrictions will come into effect on January 12 in all stores of the chain. Specific products will be determined every month. In “Magnet” the margin will be limited on goods from 25 categories, including noodles, vegetables from the “borsch set”, bread, milk, butter and buckwheat.

The FAS also sent its proposals to the Bristol network. The Antimonopoly Service told the newspaper that “they are being studied now.” As told in the department, FAS invited retailers to work out mechanisms of “responsible pricing”, since during weekly monitoring it reveals overstatement of markups in some networks.

The deputy head of the Ministry of Industry and Trade Viktor Yevtukhov told Kommersant that the ministry had discussed with the chains the possibility of setting a maximum mark-up for basic goods at no more than 10%. He cited Rosstat data, according to which last year the average mark-up for these goods in the chains did not exceed 15-16%.