The digital platform e-kalathi (e-basket), designed to inform consumers about the prices of essential goods and allow them to compare prices on a daily basis, is expected to be operational by the end of the year in the best-case scenario.

In the worst-case scenario, the platform will be ready in about eight months, around mid-July 2025, according to an update given to parliament by Energy Minister George Papanastasiou.

The platform is designed to display the prices of 350 products from supermarkets with an annual turnover of €5 million or more.

Participating supermarkets will be required to submit their daily price data by 9am to the Consumer Protection Service, which will update the platform accordingly.

Papanastasiou was responding to a question from Disy MP Nikos Sykas, who had asked for details about the progress made so far in preparing the e-kalathi platform and when it will be launched.

The minister explained that, according to the contract signed in mid-July with the project contractor, the platform is expected to be operational within 12 months. However, both the contractor and the ministry are aiming to complete the project by the end of this year.

Papanastasiou also provided details about the legislative framework for the platform. The relevant bill was submitted to the House on April 27, 2023, and passed into law on December 8, 2023. The law was then published in the Official Gazette of the Republic of Cyprus on December 19, 2023.

Following the publication of the law, the ministry prepared the project outline, which was approved by the deputy ministry of research and innovation on February 7 this year.

Shortly after, a preliminary tender announcement was issued, and the final tender was announced on March 1.

The tender attracted interest from 35 companies, and by the deadline of April 22, nine bids had been submitted, six from Cyprus and three from Greece.

On May 14, a committee recommended awarding the contract to the Greek company Saimpers S.A. for €218,100, plus VAT. The recommendation was approved on May 27 and the contract was signed on July 3.

The Consumer Protection Service is also working on finalising legislation to set maximum prices for water and other essential items in markets where competition is limited.

The platform will be accessible through both a mobile app and a website for desktop users.

Earlier this year, Agriculture Minister Maria Panayiotou praised the e-kalathi initiative, calling it “the first step in a series of steps they want to take to substantially reduce the price gap between producers and consumers.

“It is a tool that essentially provides transparency regarding retail prices and the prices received by producers,” she said.