Turkey Slaps $89 Million Antitrust Fine on Poultry Producers (1)

Turkey’s antitrust board slapped fines totaling 3.7 billion liras ($89 million) on poultry producers on grounds that they exchanged information that hurt competition.

A “comprehensive investigation” resulted in the end of forward-pricing practices in the industry, the authority said in a statement on Saturday. Poultry producers must implement price lists the moment they announce them to buyers, thus preventing the exchange of information among themselves, the board said.

Eight companies, including publicly traded Banvit Bandirma Vitaminli Yem Sanayi AS, were fined a total of about 2.7 billion liras, while five others got a combined levy of about 1 billion ...