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Albania - Agribusiness & Forestry, Food and Beverage, Economy & Statistics

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Albanian regulator slaps fine on flour cartel

Balkans.com Correspondent in Tirana - 21.10.2009

The Albanian Competition Authority (CAA) fined the country's two largest flour mills after an investigation found them guilty of price-rigging and sharing the market.

“The investigation found that Atlas Sh.a and Bloja Sh. did not compete in the import market and production of flour,” the CAA (www.caa.gov.al) said in a statement.

“The two companies have coordinated their activity in terms of determining the trading price of the relevant products. They have significant market power.”

Bloja Sh.A was fined 38.5 million leks (280,000 euros) and Atlas Sh.A 27.8 million leks (200,000 euros).

Both companies said they would appeal the decision in court.

Source: Balkans.com Business News

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