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Germany: Potatoes probed for price-fixing, damages could surpass $1.3B

By  |  May 16, 2013

Germany’s antitrust regulator has announced the initiation of an investigation into the potato market as a result of suspicions of years of price-fixing. The watchdog, known as the Bundeskartellamt, raided nine businesses and is looking into an additional five. According to reports, potential damages could amount to more than one billion euro, or about $1.3 billion. The probe centers around a scheme to fix potato prices of large orders to supermarkets – collusion reported to have worked up to 90 percent of the time and potentially leading to an additional $130 million in extra profits for potato suppliers.

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