Global Food

Itas News Agency reported on January 25 that the Russian Federal Audit Office stated that price controls would bring out systemic food shortage risks, and it would be unprofitable for manufacturers to sell products at specified prices, government compensation would not be enough to make up for the loss of profits of manufacturers. Producers will either switch to export or store goods in warehouses until price restrictions are lifted. In addition, price restrictions will also induce panic buying, trigger product shortages and stimulate manufacturers and trade outlets to raise prices in violation of regulations. After the price restriction is lifted, there is still a risk of accelerated price increases. The final assessment of the effectiveness of the price-limiting measures will be made at the end of the first quarter of 2021.

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Business Division of Food Safety and Regulatory Compliance of Global Foodmate provides food standards & regulations research, labelling compliance consulting/Chinese label design, industry public opinion monitoring and analysis, registration services (of Infant formula, FSMP, Health food, Novel Food Ingredients, Novel Food Additives, New Varieties of Food-Related Products and Overseas manufacturers of imported food) and other comprehensive food safety solutions for domestic and overseas enterprises and institutions in food industry. 

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