Latvia: Retailers demand proof of 300% markup on food prices

The Latvian Food Retailers Association (LPTA) has asked Agriculture Minister Didzis Smits to provide proof for his claim of 300% markups on food prices in stores, Baltic News Network reports. If the minister cannot provide such proof, LPTA will ask him to retract his statement. Earlier, Smits claimed that food retailers had applied 300% markups on basic food products. Meanwhile, Guntis Gutmanis, board chairman of the Latvian Agricultural Organisation Cooperation Council (LOSP), said that retailers were “hiding behind commercial secrets.”