Russia seeking to avert price hikes

Russian food manufacturers and trading companies have signed an agreement on preventing speculation, providing for tougher control over commercial agents, which will help avoid groundless price hikes.

The document also stipulates measures on reducing the goods’ cost price, as well as regular monitoring of the food market situation. Recently, unscrupulous merchants attempted to drive up food prices, taking advantage of this year’s crop failure, caused by an unprecedented drought which hit a number of Russian regions this summer.

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