Latvian retailers asks minister to list food products under 300% price markup

The Latvian Food Retailers Association (LPTA) invites Minister of Agriculture Didzis Šmits to provide accurate information as to which products sold by which retailers are sold with a 300% price markup, as mentioned in LPTA’s public statement.
LPTA stresses that if the minister cannot provide proof of his presented facts, the association wants him to withdraw the publicly reported misleading information and maintain an objective dialogue with retailers.

Previously Šmits made multiple public statements that food retailers apply a 300% price markup for basic food products like grains and groats (without VAT).

Agricultural Organisations Cooperation Council (LOSP) board chairman Guntis Gūtmanis told LTV Rīta Panorāma that LOSP has made multiple requests to food producers to publish price markups.
Gūtmanis explained that this topic was discussed both publicly and behind closed doors over the course of the past month.

Residents are also actively involved in discussions on social networks about inadequately high prices in various stores.

“We’re playing hide and seek of sorts. Some say they’re not doing anything and that the markups are small, them processing companies say they are barely able to survive. Producers often have to survive below the self-cost. This is our [LOSP] conclusion – we’re trying to honestly tell consumers what we’re doing. We publish prices and all of our markups,” said Gūtmanis, adding that

retailers are hiding behind commercial secrets.

Twitter users in Latvia propose boycotting Rimi for what they believe is unfair pricing policy.
“Tired of Rimi making profits at your expense? Vote with your wallet! Boycott Rimi starting with Friday, 21.07.2023! #sodiRimi!” was the entry on Twitter from a user named Raivis.
Latvian users started heated discussions and calls to boycott Rimi after some social network users posted their shock over the price of currants in Rimi stores. Residents believe the price (EUR 6 per 100 g) is outrageous. Later Rimi reduced the price that was four times lower than that.
Residents have also noticed that prices of several other food products are also too high.
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