State Competition Committee: Speculation created artificial deficit of sugar
11/07/2014 23:12
State Competition Committee: Speculation created artificial deficit of sugar
11/07/2014 23:12
Tashkent, Uzbekistan (UzDaily.com) -- The Government of Uzbekistan is planning to set maximum retail price for sugar, which should not exceed 3,200 soums per kilogram at all retail shops, the press service of the State Committee on privatization, demonopolization and development of competition said.
The committee said that there was agiotage at purchase of sugar by consumers in June in Tashkent city and Tashkent region, as well as some regions, which, in its turn, resulted in unfounded growth of prices to sugar in some trade points.
State Competition Committee said that the speculative activities, directed at creating artificial deficit of sugar, including coordinated activities and collusion of market participants, both wholesale and retail traders, created agiotage.
Some unfair consumers are using the situation to their own profit, buying sugar at large retail trade points and re-selling sugar at higher price.
The study of the State Competition Committee showed that currently there are no objective factors, which could negatively impact to sugar supply in Uzbekistan.
Uzbekistan increased production of sugar by 14.7% year-on-year in the first half of 2014, which fully corresponds to growing demand for sugar by population and industrial consumers. The sales of sugar via exchange were higher by 4.7% compared to the planned volume.
The committee underlined that it is planned to launch new sugar plant at special industrial zone Angren in the third quarter of 2014 with the capacity of 300,000 tonnes a year to satisfy internal demand due to local products.
Besides, the Government plans to introduce temporary maximum retail price for sugar to stabilize market and eliminate agiotage. The retail price for sugar cannot exceed 3,200 soums per kilogram at all retail shops.
The committee said that additional 12,000 tonnes of sugar will be realized via retail shops in July, while the volume of sugar, planned to realize in July, will be fully put for sale till 20 July 2014.
The committee said that Uzbekistan has enough reserves for sugar to satisfy internal demand, including during preparation of berry and fruit tinned products.
In this connection, the committee called consumers not to fall to unfounded agiotage and purchase sugar at the volume, they need.
The committee said that to prevent artificial deficit in future it started to study all chain of sugar supply in Uzbekistan, both wholesale and retail chains.
If the committee reveals coordinated activities and collusion among market players, which resulted in growth of prices, the guilty persons will be punished in line with the legislation, the state body said.
Subscribe to our Telegram channel!
18/04/2024Read more
18/04/2024Read more
$ 1 | 12667.00 | +0.022% |
1 | 13481.49 | -2.022% |
₽ 1 | 135.77 | -0.506% |