A PYMNTS Company

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.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Retail Detail

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.