Trade
9 months ago

Diamond Egg, CP Bangladesh fined Tk 35m for egg price manipulation

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Bangladesh Competition Commission (BCC) has fined two leading poultry farms -- Diamond Egg Ltd and CP Bangladesh -- a total of Tk 35 million (Tk 3.5 crore) for their alleged collusive practices in artificially increasing the prices of eggs.

To this end, the judgement was published on Wednesday. Earlier, the commission gave a final order on this matter last Monday.

As per the judgement, Diamond Egg will have to pay Tk 25 million (Tk 2.5 crore) and CP Bangladesh Tk 10 million (Tk 1 crore) in 30 days from the day the order was issued, BCC said this in separate notices.

BCC Member Hafizur Rahman told BSS that they were fined because the charges against them were proven.

The directive comes more than three months after the competition watchdog slapped fines on Kazi Farms Ltd. for Tk 50 million (Tk 5 crore) and Suguna Food and Feeds Bangladesh Pvt Ltd. for Tk 34.4 million (Tk 3.44 crore) in the second week of October 2023.

Both firms went to the higher court later, challenging the orders.

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