Competition Authority’s Public Announcement on Excessive Increase in Prices in the Food Market

An important statement is made by the Competition Authority (“Authority”) regarding the recent developments in the prices in the food market through the public announcement dated 23 March 2020 and published in the Authority’s web site.

In the announcement, it is stated that excessive increase in prices in the food market was observed in the days of the COVID-19 pandemic, and it was emphasised that there may be an opportunist approach behind the relevant increase. Particularly, fresh fruit and vegetable markets are pointed out. It is noted that the Authority closely monitors the price increases and the effective actors involved.

In the announcement, the Authority warned that the highest administrative fines would be imposed on the actors that contribute to the activities that impede competition in the food market, pursuant to the Act on the Protection of Competition numbered 4054.

You may access the full text of the relevant announcement here