GVH makes proposals to address distortions on wood market
Hungary's Competition Office (GVH) on Wednesday said it made proposals to address market distortions based on the results of a probe it launched in October to identify market trends behind a large-scale rise in the price of wood building materials, on which Hungary is largely import-dependent, according to a report by state news wire MTI.
GVH said it revealed no illegal activity requiring it to launch a procedure but found market distortions such as a lack of transparency in pricing that can have a negative influence on competition.
Therefore, GVH initiates a regulation requiring retailers of wood building materials to publish their current prices both on their websites and at physical points of sale.
In order to ease Hungary's heavy import dependence, GVH proposes further state incentives for innovative research into products and solutions that can replace certain types of wood building materials such as pine wood.
It calls for closer cooperation with countries exporting significant amounts of wood products to Hungary in order to ensure better traceability of these products.
It also recommends that wood building materials distributors should be required by law to upgrade their outdated inventory and management systems to electronic systems, possibly with targeted subsidies.
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