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 Anti-Monopoly Committee fined Ukraine's largest retail chains 203.6 million UAH for price fixing

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The Anti-Monopoly Committee (AMC) fined retail store chains within cartel agreement framework in the amount of 203.6 million hryvnia ($8.83 million).

The Anti-Monopoly Committee ruled on the cartel conspiracy of major supermarkets, which was discovered in 2013, and is related to the events of 2010-2011, Censor.NET reports citing the press service of the AMC.

Read also: Prices for Major Food Stuff are Likely to Increase

Retail chains Silpo, Fora, Velyka Kyshenia, Eko Market, Karavan, Billa, Novus, Spar, Bimarket, Metro and Nielsen research company were fined the total amount of 203,616,000 hryvnia.

The AMC's 2013 claims were that, firstly, supermarkets through Nielsen's intermediary, which collected data on retails chains, coordinated pricing and terms of working with suppliers and manufacturers. For consumers, this resulted in inflated prices.

The Committee ordered the chains to stop this practice in two months, updating contracts with suppliers.

Read also: The Prices on Socially Important Products Rapidly Hiked

The AMC accused supermarkets of price collusion in July 2013. The essence was that in 2010-2011, inflation in Kyiv amounted to 13.5%, and the prices in the capital's retail outlets rise of basic foods grew by 22-38% in average, up to 50-70% for certain products. The AMC noted that the price hike was triggered by the fact that retailers required suppliers to pay for various additional services (advertising, bonuses, etc.) which make up 5-10% of the price of supplied goods.

 
 
 
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