Pricing as a Tool for Regulating the Regional Food Market

Abstract

The current conditions of economic development require closer attention from the state, especially in the field of price formation in the food market. Food is a strategically important resource that ensures the vital activity of the nation and its prosperity. And pricing plays an important role in the implementation of this task. In this regard, it is pricing that is the key tool of the state to maintain balance in the market and influence all its participants. The authors analyzed the dynamics of prices in the food market of the region, price indices for basic groups of food products in the Republic of Buryatia, which allowed us to determine the trends in the development of the food market in the region. The conducted research has shown that today there is a transformation of consumer behavior in the region, which manifests itself in a change in consumer demand. These changes are triggered by several factors. First of all, this is the sanctions policy and the activation of domestic producers against this background within the framework of the import substitution program, while the price factor plays an important role in the formation of this trend, which is always paramount for the average buyer. The conclusions formulated in the article allow us to identify a number of proposals aimed at improving pricing as a tool for regulating the food market.