Competition authority fines companies in the fruit and vegetable market for illegal price-fixing and market-sharing.

The Competition Council, by its decision of 30 March, fined three companies engaged in the wholesale distribution of fruit and vegetables a total of 105 million króna, for having seriously breached the prohibition in the Competition Act against price-fixing and market-sharing. This is the first time the Competition Council has used its powers to impose fines under the Competition Act, as agreements between companies on prices and market-sharing are among the most serious forms of anti-competitive conduct. In the view of the Competition Council, such behaviour effectively constitutes a conspiracy against consumers, causing them harm, as they have to pay a higher price than would otherwise be the case for the relevant product.

Press release in PDF format (PDF document – Opens in a new window).