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What changed with the supermarket payments to suppliers

By George Lampiris

A multi-speed market is currently being recorded in supermarkets and is related to the difficult bet regarding the repayment time of their suppliers, ie the food industry and the companies operating in the primary sector after the activation of law 4792/2021, which provides the repayment of suppliers of food and agricultural goods within 30 or 60 days. The reason why it is evolving into a multi-speed market, is because some – mainly large – supermarket chains have already implemented it and some others are currently holding a waiting position on the issue, without having made any move at the moment. .

Aim to put an end to the large “openings” of debt repayment

The aim of the law is to put in order the uncontrolled “openings” of several supermarkets to the industry, where in 2020 the longest repayment period reached 149 days, which practically means payment of invoices within 5 months. , within 30 days, sensitive and short – volatile products that have a short shelf life, such as fresh milk or meat, should be repaid. 30 days, while for the long-term with an expiration date of more than two months, the payment must be made in up to 60 days.In the 60 days the law stipulates that the rest of the processing products must be paid except the perishable ones.

Rewards are demanded in terms of benefits from supermarkets to suppliers

However, the cases of those who have implemented the new legislation are on the one hand measured on the fingers, on the other hand there are cases of chains that demand compensation in terms of benefits from suppliers, which according to market sources means imposing a “hat” on the respective invoice , which for example amounts to + 0.40% for every 30 days that the days are reduced from the initial time that suppliers were repaid and before the new law came into force. between suppliers and supermarkets, which allow for an extension of time and start of payment in 30 or 60 days from April onwards.

From 87 to 149 days the repayment times of 2020

It is characteristic that during 2020 the repayment days for the most consistent chain that was my Market were 87 days. On the other hand, chains such as Sklavenitis with the longest repayment period paid in 149 days, Market In in 142 days, Cretan in 125 days, Masoutis and SYNKA in 120 days, AB Vassilopoulos in 105 days, Galaxias in 101 days, Bazaar in 100, The Mart in 88 (Panorama Elements of Greek Supermarkets 2021).

In all of the above, however, it is worth noting that the degree of pressure that can be exerted on a supply company for how many days later it will be paid, is something that depends on one hand on the displacement and its financial size, in addition to the product it produces. So, for example, if we are talking about a large legume or pasta business that occupies most of the shelf with the corresponding products, the amount of pressure for additional benefits is mitigated.

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Source From: Capital

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