The Ministry of Trade is initiating the conclusion of voluntary price agreements to curb price increases

First Deputy Minister of Trade and Integration of the Republic of Kazakhstan Aizhan Bizhanova, together with local executive bodies, held a meeting following the results of October on price stabilization and the saturation of the domestic market with food products.

Prices for 19 socially significant food products subject to state regulation remain stable. Their index has shown minimal growth since the beginning of autumn: 0% in August, 0.2% in September, and 0.2% in October.

To maintain stability, direct interaction with domestic producers and retail chains has been established, weekly price monitoring and enforcement of the maximum trade markup are being conducted. More than 400 agricultural fairs were held in October, including as part of the Bereke Fest and Republic Day national events, which contribute to increasing the availability of domestic products and curbing price increases.

Measures to stabilize prices for food products included in the broad food basket, which determines the overall level of food inflation, were separately discussed. This list includes over 160 products not subject to state regulation.

During the meeting, issues related to product cost formation and potential cost reductions were examined, including through the development of feed supplies and the stabilization of prices for key raw materials—raw milk, sunflower seeds, and grains.

Furthermore, it was proposed to explore the possibility of concluding voluntary pricing agreements with large producers and importers to curb retail price increases and maintain market predictability until the end of the current year.

It was proposed to include a requirement for at least 50% of production to be sold on the domestic market in the rules for subsidizing agricultural entities. Implementing this approach will ensure the saturation of the domestic market with domestically produced and affordable products and enhance the sustainability of food security.

Participants also discussed the effectiveness of preserving and supported the feasibility of a "green corridor" for the supply of fruit and vegetable products from Azerbaijan, Uzbekistan, Tajikistan, Kyrgyzstan, and Turkmenistan. This will help avoid seasonal price fluctuations and ensure a stable supply of fresh produce.

Furthermore, initiatives have been announced regarding the possibility of the antimonopoly authority applying temporary price stabilization measures in individual commodity markets if risks of sharp imbalances or speculative fluctuations are identified.

Efforts to stabilize prices for socially important and other food products will continue with increased interagency cooperation and ongoing monitoring of the food market situation.