Greek consumers save 3.0 mln euros annually from baby milk deregulation

Greek consumers save around 3.0 million euros annually from the deregulation of baby milk distribution channels in the country, the Research Institute of Retail Consumer Goods (IELKA) said in a survey on price comparison before the deregulation 2011 and today.

The survey focused on the first category of baby milk. IELKA said that baby milk has a significant cost on family budget, of more than 120 euros on a monthly basis. The global baby milk market has an annual turnover of 7.9 billion US dollars, while the European market was a value of more than 1.5 billion euros and the Greek market a value of 28-32 million euros.

Baby milk was sold exclusively in pharmacies by 2011, but the market opened in 2012 allowing supermarkets and e-stores to sell this product.

IELKA survey showed that this decision had positive impact on prices, with products sold by supermarkets at 24.74 euros per kilo on average, 9.4 pct cheaper compared with 2011 and at 26.78 euros per kilo by on-line stores, 1.94 pct cheaper compared with 2011.

This decline prices accounted for a saving of 3.0 million euros for Greek consumers, practically, a Greek household will save around 120 euros for the six-month period that will use baby milk.