Turkey Levies $89 Million Antitrust Fine on 13 Poultry Producers
Turkey Fines 13 Poultry Firms $89M Antitrust
In a significant move to curb anti-competitive practices, Turkey's antitrust authority has imposed fines totaling 3.7 billion Turkish liras, equivalent to approximately $89 million, on 13 poultry producers. The penalties stem from an investigation revealing that the companies exchanged sensitive information, including forward-pricing details, which undermined fair competition in the sector. The decision requires producers to announce and implement price lists immediately to buyers, eliminating opportunities for collusion. Eight companies, including the publicly traded Banvit Bandirma Vitaminli Yem Sanayi AS—owned by a joint venture between Qatar Holding and Brazil's BRF—face fines amounting to about 2.7 billion liras. The remaining five settled for a combined 1 billion liras, with all other implicated firms being privately held. This action comes amid heightened regulatory scrutiny following Turkey's inflation surge, which peaked at 85.5% in 2022. The antitrust board's …
