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Mass media: large retail chains will limit markups on basic products to no more than 10%

Mass media: large retail chains will limit markups on basic products to no more than 10%

One of Russia's largest retailers - X5 Group and Magnit - have addressed the Federal Antimonopoly Service with an initiative to limit the markup on the cheapest basic products by no more than 10% by the end of the year, writes "Kommersant".

Thus, according to X5 Group, the markup restrictions will affect more than 20 product categories. They will take effect in all stores starting from January 12. In this case, a list of specific products will be determined on a monthly basis.

As noted by "Magnit," the markup will be limited to about 200 products of 25 categories of basic products. The list will include milk, bread, pasta, buckwheat, vegetables from "borsch set" and butter.

The FAS has confirmed the proposals of the retailers and said that they are currently studying them.

The Deputy Head of the Ministry of Industry and Trade Viktor Yevtukhov told the newspaper that the agency has been discussing with the retailers the possibility to set the maximum markup on base commodities at 10% or less.

Made in Russia // Made in Russia

Author: Ksenia Gustova

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