Nov. 26 at the Government meeting chaired by the Prime Minister Bakytzhan Sagintayev, measures to ensure price stability for socially important food products were considered.

The Minister of National Economy Timur Suleimenov reported that the main reasons for the rise in prices for socially important food products are the price increase in the EAEU market and the rising disbursements in the cost structure.

In order to ensure the stability of prices for socially significant food products, akimats of regions and cities of republican significance are forming regional food stabilization funds. First Vice Minister of Agriculture Arman Yevniev reported on the current situation and the work of the Stabilization Funds.

Generally throughout the Republic, there has been a certain increase in prices for all socially significant food products since the early 2018. At the same time, there is a price cut for some products. These are buckwheat — by 27.6%, potatoes — by 28.5%, onion — by 25.4% and carrots — by 18.2%.

According to the Ministry of Agriculture, the main causes of price fluctuations for vegetable products are seasonality of production. Also, the gradual rise in prices for the products is due to the depreciation of the national currency. In addition, the price growth is influenced by the increase in costs for goods and services that directly affect the production. In this regard, in order to stabilize the prices of socially important food products, the Ministry of Agriculture and akimats of the regions and cities of Astana, Almaty and Shymkent are taking certain measures.

“Regional stabilization funds for food products are being formed in the regions. In January-November, 25,400 tons of foodstuffs were purchased for stabilization funds, including: potatoes — 11,000 tons, sugar — 5,000 tons, onions — 2,400 tons, carrots — 8,000 tons, rice — 600 tons, cabbage — 380 tons, vegetable oil — 240 tons,” reported Yevniev.

During this period, a total of 29,000 tons were sold. From early October 2018, 9,000 tons of foodstuffs were procured to the stabilization fund by regions, where: Aktobe region — 1,700 tons, Atyrau region — 1,200 tons, Kostanay region — 1,400 tons, North Kazakhstan region — 700 tons, Turkestan region — 1,000 tons, Karaganda region — 15.4 tons, Pavlodar region — 85 tons, Almaty — 1,500 tons and Astana — 350 tons.

“As of Nov. 20, stocks in the stabilized funds for the implementation of commodity interventions amounted to 12,200 tons, transferred to refreshment and custody — 22,700 tons. Of the available 12,200 tons there are 3,000 tons of sugar, 830 tons of vegetable oil, 1,300 tons of flour, 497 tons of buckwheat, 355 tons of pasta,” said Yevniev.

In addition, foodstuffs by the regions: Kostanay region — 4,200 tons, Atyrau region — 1,500 tons, North Kazakhstan region — 1,000 tons, Almaty — 3,200 tons and Astana — 700 tons. In some areas, the amount of food products is smaller, with a significant amount transferred to custody. The accounts and deposits of social-entrepreneurial corporations have 4 billion tenge for purchasing. The largest amount of funds falls on Astana — 1,536 million tenge, Turkestan region — 587 million tenge and Zhambyl region — 392 million tenge.

“There is an intensification of the work of the headquarters on the formation of stabilization funds for foodstuffs in Aktobe, Atyrau, Kostanay, North Kazakhstan, Turkestan regions and Almaty, Astana. At the same time, in the Akmola, Karaganda and Mangystau regions, there were no procurements in the stabilization funds for the last two months,” Yevniev concluded.