Ukraine's Cabinet of Ministers has annulled government food price regulation from July 1, Ukraine's State Service for Food Safety and Consumer Rights Protection said in a press release last week.

Government regulation of prices of flour, bread, macaroni, cereals, sugar, beef, pork and poultry, sausages, milk, cheese, sour cream, sunflower oil and eggs will be annulled from July 1.

The government also annulled the requirement to declare changes in wholesale prices for 13 groups of goods, upper profit margins for production of flour and socially important bread, baby food.

The authority will not supervise prices on the food market. Now the top priority directions for the authority are oversight of utility tariffs and regulated prices of medicines.

As reported, on October 1, 2016 a pilot project to annul government food price regulation was implemented in Ukraine under an initiative of the government.

According to the Economic Development and Trade Ministry, the monitoring of the project proved that the suspension of government food price regulation did not significantly affect the pace of prices on the consumer market. The pilot project was successful.