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Iceland: Dairy giant fined for milking profits from rivals

 |  October 5, 2014

Iceland’s largest dairy company, MS, has reportedly been issued a fine of more than $3 million for unfair conduct against its rivals.

The Icelandic Competition Authority announced late last month that it recommends the fine after it found evidence MS charged competitors 17 percent higher prices for milk products compared with costs charged to companies connected to MS. The behavior constitutes an abuse of market dominance, the ICA said.

The Minister of Industry and Commerce issued a statement following the ICA’s ruling, noting that if the watchdog’s findings are confirmed, the case could lead to an overall review of the nation’s agricultural industry.

According to reports, the ICA has closely scrutinized the milk market as it enjoys exemption from certain aspects from the nation’s competition laws. Those exemptions are often disputed in parliament, reports say.

Full content: Iceland Review

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