Farmer Protection: Ban on Selling Products Below Production Costs
New regulations aim to protect farmers and food suppliers from unfair practices. They prohibit buying agricultural and food products at prices lower than their production or purchase costs. This is intended to ensure a fairer distribution of profits throughout the food supply chain.
Key points
Introduction of a ban on purchasing agricultural and food products below their production or purchase costs.
The buyer must pay a price equal to or higher than the production or purchase costs, which can be confirmed by accounting documents or a supplier's statement.
Violation of the new rules may result in financial penalties imposed by the Office of Competition and Consumer Protection.
The act will come into force 6 months after its announcement, allowing time for adaptation to the new regulations.
Status:
In Progress
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