After Latvia’s government made an agreement with food producers and retailers in an effort to contain price rises, Lithuanian Prime Minister Gintautas Paluckas his country will closely monitor the results.
“We will wait for the effect of such agreements and see whether it is worth following suit in Lithuania,” he told reporters on Tuesday, asked whether Lithuania would follow in Latvia’s footsteps.
Paluckas noted that his own government set up the Food Council early this year to “deal with the transparency of the price chain” and to look into the structure of food prices.
“I think this will boost confidence or will at least show who is responsible for the rising prices: farmers, processors or retailers,” the prime minister said. “And based on the results, we will be able to decide if we can reach an agreement.”
The memorandum signed in Latvia provides for three directions to contain food price inflation: the establishment of a basket of low-priced goods and price comparison measures, and the promotion of locally sourced products.
Lithuania’s Food Council includes representatives of ministries, the government, farmers, processors, retailers, universities and the State Consumer Rights Protection Authority.
It is tasked with monitoring changes in food prices and proposing ways to reduce them.
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