Editor’s Note
This report highlights significant enforcement action by Panama’s consumer protection authority, underscoring the ongoing challenge of ensuring compliance with price regulations. The scale of fines serves as a stark reminder to businesses of their obligations to consumers.
The Authority for Consumer Protection and Defense of Competition (Acodeco) has imposed 1,873 fines on various commercial establishments across the country, totaling $271,374, for failing to comply with price controls.
Acodeco indicated that of the 1,873 fines applied, 1,639 were for non-compliance with price controls and 234 were related to the marketing margin.
The main establishments sanctioned for violating the prices controlled by Executive Decree No. 168 of 2018, covering 22 essential products, were mini-supermarkets with 1,128 fines totaling $120,912.00, followed by supermarkets (271 sanctions for $108,775.00).
The price control establishes regulation for the prices of 22 basic family basket products, such as: yellow cheese (American processed type, 10 each); first-class beef (top round, $2.97 per pound; bone-in strip steak, $2.55 per lb.; first-class ground beef, $2.15 per pound; shank, $2.45; rib plate, $0.90 lb.); whole Panama chicken ($1.18 per pound); regular pork chop, $1.90; beef sausage, 1-pound packages, $1.19; tuna in water, 170 g can, $1.08; lentils, $0.73 lb.; beans, $0.96).
Other regulated products include first-class rice, $0.40 per pound; macaroni (packages of 425 – 454 grams) $0.59; national and imported yellow onion, packaged or not, $0.80 per pound; national potato $0.70 per pound; yam (paleta $0.55, diamante $0.40, baboso $1.16); cassava $0.38; national perita tomato $1.23 and medium eggs, a dozen $1.87 and individual $0.16.