Antitrust Fine Imposed on Producers of Cooking Oil in Serbia, News
Competition authority imposes fines on ViktoriaOil and Vital, the leading producers of cooking oil in Serbia. The authority stated in its decision that the two companies entered into a joint production agreement that featured restrictive provisions. In particular, the authority claims that the provisions effected the exchange of information and joint production and sales in a way that led to increased prices to end consumers. The authority has engaged in a detailed analysis of the effects on price using regression analysis and other econometric tools on this market with perfect substitutes.
VictoriaOil and Vital are fined approximately EUR 186,297 and EUR 64,799, respectively, which amounts to 0.33% of the total annual turnover realised in Serbia in 2014 by each of the companies. The two companies will now have the opportunity to challenge the Competition Commission’s decision before the Administrative court – acting as the second instance court in anti-trust cases.
As a reminder, in accordance with Article 10 of the Serbian Competition Law, restrictive agreements are agreements between undertakings, which have as their object or effect the significant prevention, restriction or distortion of competition within the territory of the Republic of Serbia. Restrictive agreements can take various forms, written and oral, and may yield fines of up to 10% of the turnover realised on the Serbian market in the year preceding the initiation of proceedings.
- May 11, 2023 Mining Industry, Science and Communications, bridging the gaps
- May 11, 2023 Communicating Energy, new tech industries communications
- May 9, 2023 Serbia economy briefing: Transformation of “Elektroprivreda Srbija”
- April 24, 2023 Without sustainable mining, there is no renewable future
- March 25, 2023 Europe revives mining to reduce dependence on the import of key raw materials, the advantages of Serbia as materials supplier
- March 8, 2023 Calcium Carbonate Industry, Reshaping the Market Growth, Serbian supplier to match European industrial demand
- February 28, 2023 Serbian exploitation miner Belkalhan could become EU primary supplier of Graphite critical raw material
- February 28, 2023 Calcite/calcium carbonate premium quality supplier from Serbia opening supply contracts for 24,25, pharmaceutical/chemical/food processing industry opportunity for JV
- February 16, 2023 Serbian Belkalhan calcite & graphite mining developer invites JV partners for joint critical raw materials exploitation
- February 15, 2023 Petroprocess to modernize EPS power plant CEMS system with state of the art equipment
- May 29, 2023 What is the amendment of the regulation on subsidy for investors bringing to Serbia
- May 29, 2023 Hungarian aspiration towards Serbian hydropower plants: what happened after EPS became a joint-stock company?
- May 27, 2023 Serbia, Demand for loans was reduced in the first quarter of this year