Watchdog seeks to sniff out food price-fixers

3rd April 2008, Comments 0 comments

Anti-trust agency to begin probe into basic foodstuff whose price has been on the rise since 2007

3 April 2008

MADRID - Spain's anti-trust agency, the National Commission for Competition, said Wednesday it had begun a probe into possible price fixing in the food market after noting an upward trend in some basic foodstuffs since the middle of 2007.

Inflation is estimated to have hit a record 4.6 percent in March due to higher oil and food prices. The rest of the euro zone also suffered from the same phenomenon but inflation in the single currency zone in the same month stood at only 3.5 percent.

The CNC said it had decided to launch the probe after inspecting a number of companies and associations in the food sector at the end of October 2007.

The probe, which could last as long as 18 months, will focus on the Federation of Food and Drinks Industries, poultry and egg producers and bakers.

[El Pais / Adrian Soto / Expatica]

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