Dairy company fined 561,000 euros for profiteering

The Greek branch of an international dairy cooperative is being slapped with a 561,000-euro fine for inflated pricing, including on baby formula, that violates market rules aimed at curbing profiteering, the Development Ministry​ said.

Inspections conducted by the Interagency for Market Control Unit (DIMEA) found that FrieslandCampina Hellas SA is in violation of Article 54 of Law 5045/29-07-2023 on curbing unfair profit margins.

Specifically, they found that on nine of its products, the company had been raking in higher profits than allowed by Greek law.

"Unfair profiteering will not be tolerated. Supporting families is a priority for the government," Development Minister Kostas Skrekas said.

Inspections by the ministry are also being conducted at several large multinational companies that are active in the categories of detergents, coffee, breakfast...