October 5, 2004

Meat, Dairy Product Prices Up 15% In Ukraine

The price of meat and dairy products grew by 15 percent on average in Ukraine last week. In the Lvov region, price increased by 25 percent.

In a bid to stop rampaging prices and stabilise the market, the Ukrainian government intends to begin negotiations with manufacturers and the processing industry. This move aims to work out a concerted pricing policy, according to the Finance Ministry on Monday.

Vice-Prime Minister and Finance Minister Nikolai Azarov instructed regional authorities to take urgent measures to stabilise the market, especially in Kiev, the Vinnitsa, Poltava, Chernovtsy, Lugansk, Lvov and Ivano-Frankovsk regions.

The regions in question display overly high retail prices for meat and dairy products when wholesale prices go down. The government assures there is no shortage of these products in Ukraine.