Bachoco Contests Price-Fixing Judgement20 November 2012
MEXICO - Poultry company, Industrias Bachoco, is challenging a judgement and fine over alleged price fixing.
In December 2009, Mexico's Federal Commission of Economic Competition (CFC) announced an investigation of the Mexican poultry industry regarding possible monopolistic business practices, according to Industrias Bachoco. Bachoco was included in this investigation, and has been required to provide information to the commission since then.
Recently, and as a result of this investigation, the Company received a notification where the CFC determined that Bachoco contributed with other local producers and distributors to fix prices - a prohibited practice in the Mexican poultry industry - in the Peninsula de Yucatan region, and imposed a fine for approximately US$110,000.
Bachoco has stated that it does not agree with this determination, and will defend itself according to the provisions of Mexican law.
Bachoco is committed to free market principles and regulatory compliance, the press release concludes.