Profiteering

The Development Ministry announced on Thursday it has imposed fines totaling 1,380,000 euros for unfair profiteering on 13 companies. They include high-profile companies FG Europe and Lidl Hellas.

The Prime Minister emphasized, “We want competition, not profiteering”

Greek frozen foods producer Ainos was fined €742,000 for breaching the law against profiteering, Development Minister Kostas Skrekas said on Monday.

Of the 72 company products, 50 were found to have been sold at a higher profit margin than what the law allows in checks that took place between July 1 and September 30, 2023.

The Greek branch of an international dairy cooperative is being slapped with a 561,000-euro fine for inflated pricing, including on baby formula, that violates market rules aimed at curbing profiteering, the Development Ministry​ said.

The price of surgical masks and other commodities that have come in high demand as a result of the coronavirus outbreak will be put under the scrutiny by the Competition Commission to prevent profiteering.
Apart from masks, the products being monitored, according to the watchdog, include disinfectants, long-life milk, rice and pasta.

The union of Greece's state hospital workers, POEDIN, on Friday demanded measures from the government to stop increases in the price of medical masks, which have been in great demand over the past few weeks due to a spike in the seasonal flu and fears over the new coronavirus.

A well-known Croatian producer of salami and other meat products, Georg ‘Djuro’ Gavrilovic, will go on trial at a Zagreb court in May for alleged war profiteering.