Brazil’s Administrative Council for Economic Defence (Cade) has closed proceedings against 10 orange juice producers and 22 individuals, bringing an end to the agency’s 17-year cartel probe.
Cade settled with juice producers Cutrale, Citrovita, Coinbra (Louis Dreyfus Co), Fischer, Cargill, Bascitrus and industry group Abecitrus, along with nine individuals involved in the cartel case. They will pay a combined 301 million reais (US$89 million) to end the probe.
It was the agency’s oldest case, with an investigation starting in 1999 after complaints from independent fruit producers regarding juice makers’ buying practices. Brazil is the world’s largest orange juice producer and exporter, representing half of the juice sold worldwide.
“They admitted participation in the conduct being investigated, pledged to end those practices and cooperated with Cade to elucidate the facts,” the antitrust body said in a statement.
According to Cade, the companies also agreed to withdraw several lawsuits that have blocked the probe’s progress in the past.
Full Content: Reuters
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