GVH is also investigating the legality of food price increases

By: Trademagazin Date: 2023. 01. 17. 12:12

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Balázs Csaba Rigó, the president of the Economic Competition Office (GVH), announced that the GVH is planning an investigation in the area of food trade, but before that it started a market consultation. Previously, they are negotiating with the Bakers’ Association, and this year with a food industry interest group and representatives of other sectors.

“We analyze why prices jump in one part of the trade sector: international processes, import exposure, changes in exchange rates, maybe the increase in prices is due to the supply of raw materials, or the illegal behavior, collusion, cartel of the participating companies because of”

– he told VG.hu.

Balázs Csaba Rigó also explained that, from a competition law point of view, the state limitation of the price of certain foodstuffs, i.e. the price cap, is acceptable, because in special situations the decision-makers can intervene in certain processes of trade and competition. If the measure is of a temporary nature, serves an important social purpose, and it can be perceived under which conditions the restriction of competition will cease to be fulfilled, the governments and even the European Union may intervene.