Ministry of Trade and Integration: Kazakhstan facing vegetable price reduction

Over the past week, prices for socially important vegetables decreased by 0.3% in total. This is the result of commodity interventions, launched by the Government in early February this year.

Today, at a meeting chaired by Deputy Prime Minister – Minister of Trade and Integration Serik Zhumangarin the results of the price situation for the week on socially important products and measures to strengthen the trend for further reduction were considered.

"For the second week in a row, the prices of socially important food products in Mangystau region (-0.1%), this week there is a decrease in Turkestan region (-0.1%). In this case, almost all social vegetables became cheaper in Turkestan region, while in Mangystau region prices for potatoes and cabbage decreased. The number of points of sale of vegetables at social prices in the country increased from 682 at the initial stage of intervention to 1015. In general, due to the reduction of vegetable prices, there is a slowdown in the growth of food prices in almost all regions. We propose all the trade outlets to prolong the work with these outlets, and then the next off-season in each region will have a base of trade facilities, affecting the pricing," Acting Chairman of the Ministry of Trade and Integration Aidar Abildabekov said.

The overall index of food prices for the week increased by 0.1%, which is the lowest level since the beginning of the year (for the same week of 2022 the price increase was recorded at 5.6%). The increase was due to some rise in prices for dairy products in the general basket of food products (butter, kefir, cottage cheese, milk). Operationally, the Ministries of Trade and Agriculture held meetings with producers of dairy products, in which agreements were reached to maintain the current prices.

There was also discussed the progress of regions in the contracting of autumn crops. These contracts, according to the new standard rules of implementation of mechanisms to stabilize prices for dairy products, were to be concluded until February 1 of this year. On the part of the Committee of Trade proposed to contract autumn onion for 62-70 tenge, and taking into account storage until spring by 90 tenge.

"We need to work systematically and very actively, there is simply no other way. We see the results of the dispersal of stocks formed in the fall, the first time in the off-season prices of vegetables began to decline. And this work should be continued: those who have little stock of individual vegetables, negotiate with the regions where there is a surplus, the information will be provided to you by the Ministry of Agriculture, and ensure a stable supply of vegetables at indicative prices. We must accelerate the work on the contracting of the early and autumn crops this year, the autumn harvest is used to form reserves for the spring of 2024. We must keep food inflation at current levels and create stocks at low prices for next year," Serik Zhumangarin stressed.

Stay updated about the events of the Prime Minister and the Government of Kazakhstan - subscribe to the official Telegram channel