In an effort to curb potential price increases, the Russian government has granted permission for the duty-free import of up to 1.2 billion chicken eggs from January 1 to June 30, 2024.

The Ministry of Agriculture will facilitate the necessary documentation for duty-free imports, and real-time information on remaining quantities of eggs with tariff advantages will be available on the ministry's website.

The Eurasian Economic Commission, endorsing this temporary measure, emphasized its necessity to manage the rise in prices for socially crucial products during the winter-spring period and avert a potential import shortage. Experts anticipate the possibility of price stability and even discounts but refrain from predicting a return to previous price levels.

Dmitry Leonov, Deputy Chairman of the Board of Directors of Rusprodsoyuz, anticipates a decline in retail egg prices after the New Year, following their record levels in the past decade. Igor Stroganov, Associate Professor of the Department of Entrepreneurship and Logistics at the Russian University of Economics, believes this measure will contribute to price stabilization, although a complete return to previous prices is unlikely.

According to Rosstat, the price of chicken eggs in Russia has steadily risen, increasing by almost 60% throughout the year. Officials attribute this surge to growing demand for affordable protein, surpassing domestic production capabilities. The Ministry of Agriculture views the import supply as a means to normalize the situation, expecting a decline in prices post-New Year and an uptick in domestic egg production. (ILKHA)