Russia to exempt eggs from import duties as prices climb, stocks dwindle

Russia's economy ministry on Wednesday said the import of 1.2 billion eggs would be exempt from duties for the first five months of next year, as some shops run low on supplies. Prices have risen more than 40% so far this year and empty egg shelves have been seen in some Moscow supermarkets in the past week.

Russia's economy ministry on Wednesday said the import of 1.2 billion eggs would be exempt from duties for the first five months of next year, as some shops run low on supplies. Prices have risen more than 40% so far this year and empty egg shelves have been seen in some Moscow supermarkets in the past week. Eggs remain widely available online and not all shops have been affected.

"The decision will help in the short term to balance the domestic market of eggs and ensure supply growth," the ministry said. The measure will apply from Jan. 1 to June 1. It said imports could be sourced from "friendly countries", meaning those that have not imposed sanctions on Russia over the conflict in Ukraine.

Russia has been grappling with stubbornly high inflation after a double-digit rise in 2022. Prices for eggs have risen 42.4% since the start of the year, according to data from federal statistics service Rosstat. In the southern city of Belgorod, shoppers queued for eggs at a market where 10 eggs were available for 65 roubles ($0.72) as opposed to the supermarket price of more than 150 roubles ($1.67), a Reuters reporter said.

Russia's General Prosecutor's Office last week said it had met with various federal bodies to discuss egg prices and the work being done to curb their rise. It said that "comprehensive response measures will be taken to protect citizens' rights from unjustified price increases".

($1 = 89.9050 roubles)

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