Tatarstan entrepreneurs can take part in organized auctions

Tatarstan manufacturers who want to sell their goods to companies all over Russia or purchase products without intermediaries are invited to register on the platform for organized auctions of goods and raw materials.

Organized bidding is an effective mechanism for price formation based on market principles. They make it possible to reduce prices for end consumers and the small wholesale segment by eliminating the resale chain. The main difference between organized trading and other types of trading procedures is the disclosure of the market price based on the results of the trading day. 

Trading platforms are subject to regulation by the Bank of Russia. They ensure transparency, uninterrupted trading, and a high level of trust on the part of participants. This allows one to create verified and fair pricing.

For some goods, the obligation to sell at organized auctions has been established. For example, in 2022, amendments were made to the Forest Code, according to which wood harvested by state (municipal) institutions, as well as unprocessed and processed timber are sold at organized auctions. The list of key goods to be sold at organized auctions is planned to be fixed by an Order of the Government of the Russian Federation. This list may include metals (including ferrous, non-ferrous and precious metals), wood and timber, agricultural products (including cereals, sugar), oil and petroleum products, chemical products, fertilizers, plastics and a number of others. For some goods, the need to sell at organized auctions is also being considered, for example, for fish and other products from aquatic biological resources, there are a number of relevant instructions from the President and the Government of the Russian Federation.

The project on the development of alternative services for organized trade was launched by the Government of the Russian Federation and the Bank of Russia in order to ensure transparency of the commodity market. The Head of the Republic supported the proposal to implement a pilot project in Tatarstan.