Ukraine’s antitrust watchdog probing hike in egg prices
Only Bakhmatyuk's company reported to the AMCU about the loss of chicken flocks and production capacities (Photo:akirEVarga / Pixabay)
Ukraine’s Antimonopoly Committee (AMCU) has begun looking into a jump in the cost of eggs due to a 54% surge in egg prices in the last three months, despite the lack of an obvious reason for the hike, the government agency said in a statement on Oct. 20.
"Realizing the social importance of this issue, the Committee began to investigate the reasons for the increase in prices for shelled eggs in September-October 2022," the AMCU said.
The Antimonopoly Committee believes that the increase in prices for eggs may not have objective grounds, despite the severe economic consequences of the war. It noted that only one producer – Oleh Bakhmatyuk's Avangard, the largest in Ukraine – has reported a loss of chicken population and production capacity. No such information was submitted by any of the other market participants, including major player Ovostar Union.
The AMCU noted that general inflation and the growth of the consumer price index for food also does not correlate with the rapid increase in the cost of eggs, and the cost of feed for chickens remains quite low.
While the Committee has stressed that businesses should not be exploiting wartime pressures to boost profits, it has sought to reassure enterprises, including dominant ones, that they have the right to protect their legitimate interests, especially under martial law.
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