Antitrust: Retailers to cap markups on socially important food

MOSCOW, Jan 12 (PRIME) -- Russian grocery retailers Magnit, Dixy, and X5 Retail Group have agreed with the proposal of the Federal Antimonopoly Service to cap the markups for socially important food at 10%, while retail chain Bristol will limit the markup by 10–15%, the service said in a statement on Wednesday.

The socially important food includes bread, flour, sunflower oil, sugar, salt, milk, cereals, chicken eggs, macaroni, and some types of fruit and vegetables.

The markups below the threshold will remain and will not grow, the service said.

In 2021, the service held a series of meetings with the retailers, and recommended that they limit markups for some positions in each category of socially important food, and ensure their high stocks.

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