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India: Veggie price spike catches CCI eyes

By  |  August 2, 2013
India: Veggie price spike catches CCI eyes

Following a recent hike in vegetable prices, the Competition Commission of India announced the initiation of a probe into what caused the price increases and to evaluate how prices are established in the sector. The CCI confirmed the news and told media the regulator will look at “various aspects of the agricultural market.” Reports say in addition to the probe, some members of the CCI have met with the Commission for Agricultural Costs and Prices to better understand the inner-workings of the market. Despite what reports describe as “good rainfall,” vegetable produce prices have increased. A study by the CCI released last year found evidence of an onion cartel.

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