Thirteen fresh chicken suppliers have been fined a record S$27 million (US$19.8 million) for anti-competitive practices, as the Competition and Consumer Commission of Singapore (CCCS) wrapped up a four-year investigation on the industry.
For nearly seven years, the suppliers had discussed and coordinated the amount and timing of price increases ranging from S$0.10 to S$0.30 per kg (US$.07 to US$.22) on at least seven occasions. They also agreed not to compete for each other’s customers, announced the CCCS on Wednesday, September 12.
The CCCS stated the “seriousness and long duration” of the cartel conduct, alongside other factors such as the distributors’ high market share and the large size of the industry, contributed to the heavy fines.
Full Content: Channel NewsAsia
