ECONOMY

Proposal tabled on EU food price monitoring

proposal-tabled-on-eu-food-price-monitoring

The European Commission on Wednesday tabled a proposal that will make available important information on how prices are determined as agri-food products move along the food supply chain.

Brussels said: “Buying and selling price differences can provide information about intermediary costs (such as transport, insurance, storage etc) between sellers and buyers. Greater transparency can support better business decisions and improve trust in fair dealing between the stages in the food supply chain. Having access to timely and easily accessible information about market developments is also key to compete effectively in global markets.”

Agriculture and Rural Development Commissioner Phil Hogan stated: “Strengthening the position of farmers in the food supply chain has been a priority for the Commission. Enhancing market transparency will allow equal access to and greater clarity about price information, making our food chain fairer and better balanced. These new rules will complement the recently adopted directive banning unfair trading practices in empowering weaker and smaller actors of the food supply chain and their introduction reflects the very significant public support that there is throughout the EU to strengthen the role of farmer in the food supply chain.”