Information for fruit and vegetables business in CIS
A new law enables government to regulate prices for agricultural products
According to the law about the support of production and development of market of agricultural products, which was favourably voted by the majority of parliamentary deputies on Thursday, the state will be able to regulate the wholesale prices for some kinds of agricultural products, by way of setting minimal and maximal purchasing prices and "assuming other measures in observance of the norms of anti-monopoly legislation and the rules of fair competition", Interfax-Ukraine news agency informed.
The law stipulates the objects of the state price regulation. These are wheat, rye, barley, oats, maize, wheat or wheat/rye flour, soybeans, flax seeds, rapeseeds, sunflower seeds, hop, beet-origin sugar.
According to the law, the decision about introduction of the regulation regime is taken by the cabinet of Ministers, having been tabled by the Agrarian Fund. The Agrarian Fund is a specialised institution, authorised by the Cabinet of Ministers to pursue price policy in the agro-industrial sector of the economy. It reports to and is controlled by the body of central executive power, responsible for pursuance of the agrarian policy.