New Zealand regulator fines livestock companies for price fixing
( December 22, 2015, 10:02 GMT | Official Statement) -- New Zealand's Commerce Commission has fined PGG Wrightson and Rural Livestock NZ$ 2.7 million ($1.8 million) and $475,000, respectively, for price fixing in connection with the National Animal Identification Tracing Act 2010. The commission found that the companies had entered into three anti-competitive agreements to fix saleyard prices for tagging cattle and other administrative fees. The commission also issued warnings to seven other livestock companies in potential breach of the Commerce Act, as well as the New Zealand Stock and Station Agents Association. The regulator's statement follows: ...
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