Two firms fined Tk 3.5cr for egg price manipulation

DE Online Desk
Bangladesh Competition Commission has fined two poultry farms – Diamond Egg Limited and CP Bangladesh – a total of Tk 3.5 crore for their alleged collusive practices in artificially increasing the prices of eggs.
To this end, the judgment was published on Wednesday. Earlier, the commission gave a final order on this matter last Monday.
As per the judgment, Diamond Egg will have to pay Tk 2.5 crore and CP Bangladesh Tk 1 crore in 30 days from the day the order was issued, the BCC said this in separate notices, reports BSS.
BCC member Hafizur Rahman told BSS that the firms were fined because the charges against them were proven.
The directive comes more than three months after the competition watchdog slapped fine on Kazi Farms Limited Tk 5 crore and Suguna Food and Feeds Bangladesh Pvt Limited Tk 3.44 crore in the second week of October 2023.
Both the firms went to the higher court later challenging the orders.