GVH launches wood market probe
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Hungary's Competition Office (GVH) announced the launch of a probe to identify market trends behind a large-scale rise in the price of wood building materials, according to portfolio.hu.
The office said it had received reports that prices for wood building materials, on which Hungary is essentially import-dependent, have risen across the country, at every level of the supply chain, amid inventory shortages.
GVH is partnering in the probe with national food safety authority NÉBIH, which has oversight of the forestry industry and trade of wood products in Hungary, paying particular attention to determining the legal origin of imported products. GVH and NÉBIH have already conducted several coordinated, on-site inspections at several significant market players, the office said.
The competition authority has prioritized rooting out possible market distortions or illegal activity contributing to significant rises in building materials prices. It recently concluded a probe of the ceramic masonry elements market but found no reason to launch an oversight procedure, instead recommending the government incentivize an expansion of local production capacity and urging consumers to shop around.
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