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Bulgaria Competition Watchdog Fines Egg and Poultry Producers Cartel
Business | July 22, 2008, Tuesday // 00:00
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Several Bulgarian eggs and poultry producers will be fined for having formed a cartel to drive up the prices. Photo by Nadya Kotseva (Sofia Photo Agency)
Bulgaria's Competition Protection Committee fined several Bulgarian producers of poultry and eggs a total of BGN 293 000 over prohibited cartel agreements.
The participants in the cartel included the Union of Poultry Farmers in Bulgaria and Gradus Ltd Stara Zagora, among others.
The competition committee started to investigate the case as a result of the drastic increase in the price of poultry in August 2007.
The several companies involved had also created a secret plan to control the eggs market with respect to the prices but also with respect to the volume of production.
The measures clearly aimed at eliminating the competition and increasing the retail prices.
The Committee announced that the rise of egg prices in August-September 2007 had been so steep that they had overtaken the average egg prices in the EU.
It has also been discovered that in 2002-2007 the meetings between egg and poultry producers were held more often if the prices had started to decrease.
The participants in the cartel included the Union of Poultry Farmers in Bulgaria and Gradus Ltd Stara Zagora, among others.
The competition committee started to investigate the case as a result of the drastic increase in the price of poultry in August 2007.
The several companies involved had also created a secret plan to control the eggs market with respect to the prices but also with respect to the volume of production.
The measures clearly aimed at eliminating the competition and increasing the retail prices.
The Committee announced that the rise of egg prices in August-September 2007 had been so steep that they had overtaken the average egg prices in the EU.
It has also been discovered that in 2002-2007 the meetings between egg and poultry producers were held more often if the prices had started to decrease.
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