OPORA Russia applied to Central Bank to limit the acquiring commission for pet industry

OPORA Russia

The Committee for the Pet Business at all-Russian non-governmental organization for small and medium-sized businesses OPORA Russia applied to the Central Bank of Russia with a request to reduce the acquiring fees for the pet industry enterprises down to 1%. The letter was sent to the Central Bank Head Elvira Nabiullina. OPORA suggests to include pet stores in the list of retailers that are subject to a temporary limit on the size of the acquiring commission. Pet retailers are included in the essential goods category sellers, most of which had already been a subject to acquiring commission reduction, but pet stores hadn’t not receive the benefit. So far pet supply chains pay a standard commission of 1.9—2.5% the OPORA letter says.

Earlier the Central Bank limited the maximum acquiring rate for the sale of socially significant products down to 1% until August 31, 2022. The regulator introduced this measure in order for “businesses to rebuild logistics and their processes by reducing costs” in a crisis.

According to Kirill Dmitriev, the President of the National Pet Industry Association, consumers have become cost sensitive. Since Russia invaded Ukraine due to the nation currency ruble devaluation and logistic disruptions, the prices for imported pet products have increased by 50—80%, and for domestic products up 10—30%.

More on the topic:
National Pet Industry Association established in Russia
Rosselkhoznadzor enacts digital document flow with 16 countries
RSN attempts prevent pet food shortage

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