Bread Prices, Expanded Price Controls, and Early Harvest Procurement: Government Discusses Inflation Stabilization Measures
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The first meeting of the new year on inflation stabilization was held at the Government under the chairmanship of Deputy Prime Minister - Minister of National Economy Serik Zhumangarin, primeminister.kz reports.
As noted by First Vice Minister of Trade and Integration Aizhan Bizhanova, the updated list of socially important food products came into force on January 4 this year and is already demonstrating initial results. Since the beginning of the year, the food price index has amounted to +0.2%, which is three times lower than the figure for the same period last year (+0.7%).
Positive dynamics have been recorded for product categories that were previously not covered by state price regulation.
Since the beginning of the year, prices for dairy products have declined: sour cream by 0.2%, milk by 0.3%, and cheese by 0.6%. In the fruit and vegetable subgroup, prices decreased for tomatoes by 1%, cucumbers by 3.7%, and apples by 1.5%. A decline in prices was also noted for other food products included in the expanded list, such as rice, tea, and certain types of meat and fish products.
The meeting emphasized that the expansion of the list of socially important food products is temporary and aimed at smoothing price fluctuations in the food market. As the situation stabilizes, the list will be gradually returned to the base 19 items.
At the same time, price increases persist for certain food products, including sunflower oil, butter, and cottage cheese. The rise in prices is mainly associated with imported products as well as external price conditions. According to FAO data, by the end of 2025 the average global vegetable oil price index amounted to 161.6 points, which is 17.1% higher than the previous year and represents the highest level over the past three years amid constrained global supply.
To restrain prices on the domestic market, the Ministry of Trade and Integration is working on a memorandum with the National Association of Oilseed Processors предусматривающий the fixation of wholesale prices for products this year. Similar arrangements are being developed with domestic producers for eggs, poultry meat, salt, and potatoes.
The situation with rising prices for socially important bread in the Turkestan region was also discussed separately. Of the three bakeries in the region, one allowed a price increase due to higher production costs and a shortage of subsidized flour. The situation has now been stabilized and the price reduced. The Deputy Prime Minister instructed the Food Contract Corporation, together with JSC NC KTZ, to conduct an operational analysis of the availability of subsidized flour in the regions and, if necessary, ensure uninterrupted supplies of discounted grain.
Prices for vegetables and apples generally remain stable. The wholesale price for potatoes in January is maintained within the range of 150-170 tenge per kilogram, which corresponds to the ceiling levels established by the memorandum between the Ministry of Trade and Integration and the Union of Potato Growers.
At the same time, exports of potatoes and carrots continue to increase, placing additional pressure on the domestic market. In this regard, to stabilize prices in the regions, the release of vegetables from stabilization funds has begun.
According to the Ministry of Agriculture, of the formed reserves totaling 247 thousand tons, 35.8 thousand tons have been sold. In a number of regions, insufficient activity in selling products at affordable prices has been noted. In this connection, Serik Zhumangarin instructed akimats to ensure the sale of the main volume of last year’s harvest stocks by the end of February.
The Ministry of Trade and Integration, together with QazTrade, was instructed to ensure supplies of early harvest produce from neighboring countries starting in March. By the end of the year, around 6,000 agricultural fairs are planned to be held nationwide.
In addition, the Deputy Prime Minister instructed to update the action plan for price stabilization, taking into account the current price dynamics.
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