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Mexico fines sugar suppliers

Mexico’s Federal Economic Competition Commission has sanctioned seven companies, 10 individuals and a trade industry 88.88 million pesos (€4.23 million) for fixing the price and restricting the supply of sugar in Mexico, after the companies and individuals responded to a drop in sugar prices by forming a cartel.
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Multimillion fine against sugar industry “monopoly” in Mexico

El Universal on 21 June 2016 reported the Mexican federal regulators raised a fine of around US$4.76 million against the local sugar industry. The Comisión Federal de Competencia Económica (Cofece) levied the fine against seven companies, ten individuals and the sugar industry business chamber (CNIAA). The Cofece probe carried out from October to December 2013 found the accused engaged in…
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