An addendum to the memorandum on trade in food products was also signed with the aim of increasing their accessibility by expanding the range in the basket of products at a low price, as well as their recognizability. To promote a change in the consumption habits of Latvians in favor of choosing goods from Latvian producers.
Low price foodbasket
The signatories of the Memorandum agreed to expand the offer of the low-price food basket by adding the assortment in ten product categories, and also committed to consider the possibility of conducting a national campaign to expand the assortment of local products.
According to the Minister of Economy Viktors Valainis, cited by the Latvian portal Delfi.lv, in the year since the signing of the memorandum on reducing food prices, a low-price basket has been introduced, and various accounting methods have been developed that were not previously available, such as a price comparison tool.
In general, food prices in the Baltic States have increased over the year, but as a result of the above actions, only in Latvia food prices have decreased over the year.
In May 2025, the Ministry of Economy, CCI and a number of specialized associations signed a memorandum on reducing food prices, which envisaged the introduction of a basket of products at low prices, the creation of a price comparison tool and the promotion of an increase in the share of locally produced products in stores.
