Diamond Egg, CP Bangladesh fined Tk 3.5 crore for anti-competitive practices

The Bangladesh Competition Commission (BCC) has fined Diamond Egg Ltd. and CP Bangladesh, two well-known poultry farms, a total of Taka 3.5 crore for their alleged collusive methods in artificially increasing egg prices.

Given this, the decision was released to the public on Wednesday. The commission issued a final order in this regard on Monday of last week.

The BCC noted in separate notices that Diamond Egg is required by the ruling to pay CP Bangladesh Tk 1 crore and Taka 2.5 crore within 30 days of the order's issue.

BCC member Hafizur Rahman said that because the charges against them were proven true, they were punished.

The decision was made more than three months after the competition watchdog penalized Suguna Food and Feeds Bangladesh Pvt Ltd and Kazi Farms Ltd Tk 3.44 crore and Tk 5 crore, respectively, in the second week of October 2023.

Both corporations then filed a legal challenge against the orders.

/MHK/