The EU cartel-busting investigation into the banana and pineapple markets in the EU has come “out of the blue” industry insiders say. EU competition authorities are prioritising the elimination of information-sharing price-fixing cartels and Chiquita’s admission last week of internal irregularities has turned the markets for the two fruits into the latest target.
The revelations shocked the trade and banana industry insiders told freshinfo the European Commission’s moves had come as a complete surprise. “Volumes into Europe are already widely known so the implication is that information was shared on price,” said one. “It’s come as a bolt out of the blue though to the trade.”
Another said price-fixing in the UK would be unbelievable. “With such massive price deflation at retail level [on bananas]over the past few years, I can’t really believe any prices can possibly be fixed,” he said.
There are no strict deadlines for the European Commission to complete cartel inquiries and this whole issue could hang over the trade for months if not years to come.
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