Do we pay too much for apples? The Belgian Competition Authority (ABC) has opened a wide-ranging survey of prices in the fruit market, reported De Tijd on Wednesday (7 September).
The investigation by the competition authority has been underway for a while and includes producers of apples and pears. The authority may impose fines on cartels which can go up to 10% of the turnover of the companies concerned, as well as penalties or fines against the management from 100 to 10,000 euros.
A cartel is an agreement that distorts market competition between firms by controlling prices or excluding the entry of a new firm in the market.
The Brussels Times (Source: Belga)