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Mexico: Supreme court approves fine on poultry industry heavyweights

By  |  August 11, 2015
Mexico: Supreme court approves fine on poultry industry heavyweights

Mexico’s Supreme Court has ratified the fine, amounting to $130.4 million pesos (around 8 million USD), which competition regulators COFECE had ordered on Mexico’s main poultry producers, as well as the National Union of Poultry Farmers (Unión Nacional de Avicultores, UNA) over a “conspiracy to manipulate and agree on the price of chicken meat, to the detriment of consumers.”

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    The case, dating back to October 2013, saw fines levied on poultry giants Bachoco, Pilgrim’s Pride and Tyson, as well as Pollo de Querétaro and San Antonio, with charges made against six company executives. Charges were made against UNA due to their likely participation in the agreements between poultry producers and retailers, which COFECE claims were “aimed at exchanging information for fixing, agreeing and manipulating the sales price of several products through the issuing of false ‘bargains’ through mass media.’”

    “These actions harm the public and society at large, not only when their purpose is to raise prices or to force consumers to pay exaggerated amounts.” Furthermore, COFECE’s statement adds, “ The constitution prohibits, and orders penalties for, any agreement which seeks to manipulate prices.”

    Source: CNN Expansión

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