A government-enforced price cap on fresh pasteurized milk will be lifted on Monday, allowing the market to regulate the price of this basic commodity once more.
In a statement on Thursday, the commerce ministry said the price control – enforced by ministerial decree – had prevented hikes along the supply chain, ensuring that consumers had access to affordable milk.
The ministry added, that price controls were a temporary measure and as such it decided not to renew the cap.
It went on to urge economic operators to exercise restraint and not to take advantage of the end of the cap to hike up prices at the first opportunity.
The ministry said it would be monitoring the situation once the price control is lifted and, if necessary to protect consumers’ interests, would not hesitate to intervene anew.
The price of milk is set at €1.41 per litre for retail and €1.32 per litre for wholesale, including VAT.
The price cap decree was originally issued by the previous commerce minister Neoclis Sylikiotis after farmers threatened to increase the price of raw milk by 1.8 cents after they had already raised the price by four cents.