Security Alert
Specification of new measures for transparency in the consumer goods market
Following Ministerial Decision 6969/30.01.2024 (Government Gazette B'640/30.1.2024), specifying the new measures for transparency in the consumer goods market, as they were introduced in the Greek jurisdiction by virtue of Law 5082/2024 (Government Gazette A'9/19.1.2024), Ministerial Decision 12924/15.02.2024 (Government Gazette B'1115/15.02.2024) (the "Decision") was issued, introducing the following major amendments and additions:
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More specifically, the changes introduced by the Decision are as follows:
- Exemption from the application of A.38 par. 1 of Law 5082/2024, i.e. the prohibition of promotional activities for 3 months in case of an increase in prices of products for products with a near expiry date, provided that they are clearly marked with the phrase "Product with near expiry date" on or near the product, and which are listed in the following table:
- Aggregation of the “permanent price reduction”: For products participating in the "Permanent Price Reduction" initiative of article 16 of Law 5055/2023, the reduction to which the suppliers have committed themselves shall be included in the percentage of the initial price reduction of par. 2 of article 38 of Law 5084/2023, provided that the price reduction was made on the selling price of the product, before discounts, credits or other allowances.
- Obligation for suppliers to announce price lists and retailers' stock management: For the categories of products under article 38 par. 1 and 2 of Law 5082/2024, the businesses supplying the retail trade are obliged to:
a) announce the new price lists to which the reduction of the initial price applies in accordance with par. 2 of article 38 of Law 5082/2024, to retailers until 20 February 2024, and
b) ensure the withdrawal of the stock of their products that were sold by means of the promotional activities under points b, c and d of par. 1 of article 1 of Ministerial Decision 6969/30.01.2024, before the application of the announced price increase, while they are prohibited to dispose them for the next three (3) months in accordance with par. 1 of article 38 of Law 5082/2024.
Finally, it was clarified that the reductions of the initial price under (a) will be notified by the retailers to the Services of the Ministry of Development in accord-ance with the procedure of article 15 of Law 5055/2023.
For violations of the above obligations, a fine of Euro 5,000 - 1,000,000 is imposed.
Categories of products for which an announcement of prices increase is expected
Following Ministerial Decision 92566/11-10-2023 (B' 5928), Ministerial Decision 12925/15.02.2024 (Government Gazette B' 1115/15.02.2024) (the "Decision") was issued, amending the categories of products for which there is a relevant obligation for the supermarkets to announce an increase in prices to the Ministry of Development.
More specifically, following the abovementioned amendment, the categories of products falling under said obligation are as follows:
The other provisions of Ministerial Decision 92566/11-10-2023 (B' 5928), which was issued pursuant to par. 6 of Article 15 of Law 5055/2023, shall not be amended and remain in force as they are.