Cyprus Mail

Coronavirus: Consumers association says no evidence of profiteering

There has been a slight increase in the price of disinfectants but no profiteering has been observed, the Cyprus consumers association said on Tuesday.

“There are very few exceptions, such as protective masks,” head of the consumers association Marios Droushiotis told the Cyprus Mail, adding that this is one of the few products for which the association does not have data.

According to Droushiotis, there have been complaints by customers about profiteering when it comes to the price of disinfectants, but the association found that supermarkets have not raised their prices.

Some increases were recorded in smaller outlets which only had small quantities of the products.

As well, there may be some price increases which are justifiable, the head of the association explained, such as disinfectants in discount stores which initially bought stock for a lower price and when those stocks were exhausted the shops had to buy products at higher prices from dealers. This does not mean they will make a bigger profit, he noted.

Droushiotis believes the supermarkets will not raise prices at this stage as consumers are very suspicious and price hikes would only backfire.

There is an adequate supply of products in the market, he added.

Regarding shortages, he said these were mainly observed on Friday and during the weekend, when there was a massive influx of customers and the sold goods could not immediately be replaced.

Since Monday, this has been remedied and the number of customers has also decreased.

The consumer association called on consumers to buy only the quantities they need to ensure there is enough for others.

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