President Aleksandar Vučić has expressed his expectation that the Commission for the Protection of Competition will take stringent action against the four largest retail chains in Serbia, currently under investigation for potential price-fixing practices. The Commission has initiated proceedings against Delhaize, Mercator S, Univerexport and Dis, amid suspicions that these companies have colluded to manipulate the prices of certain products.
In an interview with RTS, Vučić highlighted that these retail giants have significantly increased their gross trade margins from 19% to 36% between 2016 and 2023, nearly doubling their margins. “When you observe the corresponding rise in prices, it’s clear that the Commission for the Protection of Competition needs to intervene. I expect them to be very strict, serious, and responsible in their actions,” he stated.
He acknowledged the contributions of these companies, noting that three are foreign-owned while one is domestic. “While we respect their operations here, it’s essential for them to consider the welfare of Serbian citizens,” Vučić emphasized.
The President pointed out that these chains raised their margins even during the challenging times of the pandemic when many people faced financial hardships. “It’s concerning that while people were struggling, these companies profited significantly. They need to moderate their practices to ensure that basic necessities are affordable for the citizens of Serbia,” he remarked.
When asked whether these chains would merely receive warnings or face fines amounting to 10% of their annual income, as stipulated by law, Vučić refrained from making definitive statements. “If I were to declare that they would definitely be punished, it might appear dictatorial. We will allow the Commission to conduct its work and determine the appropriate measures,” he concluded.
