Bachoco announces notification of the Mexico's CFC
Mexico's Federal Commission of Economic Competition ("CFC") announced an investigation in December 2009, into the Mexican poultry industry regarding possible monopolistic business practices.
Bachoco, Mexico's leading producer and processor of poultry and other food products, was included in this investigation, and has been required to provide information to the commission since then.
Most recently, and as a result of this investigation, the Company received a notification where the CFC determined that Bachoco contributed with other local producers and distributors to fix prices (which is prohibited practice in the Mexican poultry industry), in the Yucatan Peninsula region, and imposed a fine for approximately $110,000 USD.
Bachoco does not agree with this determination, and will defend itself according to the provisions of Mexican law.
The company have recently issued a press release in Mexico regarding this topic.
Bachocos' main business lines are: chicken, eggs, balanced feed, swine, and turkey and beef value-added products.
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