EU wants price transparency in production and sale of foodstuffs

The EU approved a new directive on unfair trade practices that member countries must implement within two years. One of the aims is fostering price transparency. Farmers, food producers and retailers will have to publish their costs for inputs, labor, production, transport, insurance, and logistics. The prices will be published to make sure the profit margin on foodstuffs is spread fairly over the whole chain, from growing crops to the sale of final produce. The directive came in response to farmers’ and food producers’ complaints that retailers abuse their position and grab all the profits to be made. Slovakia is yet to disclose the details of its legislation.

(HN/1)