EU alleges Norwegian salmon producers breached antitrust rules, colluded to fix spot prices

Published Jan 25, 2024

Tridge summary

The European Commission (E.C.) is progressing an investigation into six major Norwegian salmon producers, including Mowi, Cermaq, Grieg, Bremnes, Lerøy, and SalMar, over allegations of price fixing in the spot market between 2011 and 2019. The companies, which have denied the allegations, are accused of breaching E.U. antitrust rules by colluding to distort competition. The investigation began in February 2019 and included raids of company facilities in several E.U. countries. The companies now have the opportunity to review the E.C.’s investigatory file and respond in writing.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The European Commission has informed six of the largest Norwegian salmon producers it is advancing an investigation into price fixing in the spot market.The E.C. alleges Mowi, Cermaq, Grieg, Bremnes, Lerøy, and SalMar breached E.U. antitrust rules by colluding to distort competition in the market for spot sales of Norwegian-farmed Atlantic salmon in the E.U. between 2011 and 2019, including exchanging commercially sensitive information. It said it acted after receiving information from several market players about alleged illegal conduct.“The Commission has concerns that, between 2011 and 2019, the six salmon producers exchanged commercially sensitive information relating to sales prices, available volumes, sales volumes, production volumes, and production capacities, as well as other price-setting factors,” it said. “The suspected aim of this alleged conduct was to reduce normal uncertainty in the market for spot sales of Norwegian-farmed Atlantic salmon into the E.U.”The ...

Source: Seafoodsource