Russia will create its own system of price indicators

Currently, the Federation Council is preparing to adopt a number of laws that will allow the appearance in the Russian Federation of special indicators that affect the pricing of goods.

It is noted that earlier Russia actively used indicators provided by Western analytical agencies, such as Bloomberg.

But last year, in connection with the introduction of anti-Russian sanctions, these data have lost their relevance.

Therefore, last September, Russian Prime Minister Mikhail Mishustin instructed to develop his own system of indicators for exchange commodities, as well as currencies and securities.

Both the Bank of Russia and financial departments are actively involved in the development of draft laws.

Why do we need a price indicator system?


Its main task is to ensure that all market participants can receive up-to-date and verified information.

Based on this information, they could bid at the most fair and economically viable prices. In addition, the liquidity of exchange trading will increase.

In other words, it will be possible to buy or sell goods faster, while the price will be close to the objective one.

Which products will be affected by this initiative?


In principle, there is nothing wrong with developing price indicators for all goods traded on the exchange.

But at the first stage it is planned to focus on the most popular categories.

In particular, among the goods that are related to agricultural products, indicators can be introduced on wheat and rye, barley, corn and soybeans, as well as sunflower and sunflower oil.

It is possible that poultry and cattle meat will be added to the list of these products in the future.

How will the indicator calculation system work?


This is just one of those most important issues that legislators and relevant departments are currently working on.

It is likely that for the calculation of indicators, data from trading systems and electronic platforms where trading takes place will be used, among other things.

Georgy Ostapkovich, director of the HSE Center for Market Research, noted that price indicators are not just numbers.

In addition to the price and volume of this product, which is now on the Russian market, it is very important that for each batch both the manufacturer and the origin of this batch, and the entire path it has traveled from the place of production to the place of sale, be visible.

In this case, market participants will indeed have all the information to set a fair price.