Mexico: Bachoco deny poultry price fixing
Mexico-based poultry producer Industrias Bachoco has denied the charge of fixing the price of poultry in the Mexican Yucatán region.
Following an investigation by the Mexican Federal Comission of Economic Competition (CFC) into monopolistic business practices by the Mexican poultry sector, Industrias Bachoco, together with other local poultry producers and distributors, have been fined $110,000.
Bachoco was notified of the decision and plans will submit an appeal to the CFC.
“We disagree with this decision. We deny being responsible of said actions. We will be submitting an appeal to CFC within the next few days," the company said in a press release.
Fined companies have a maximum of 30 days to submit an appeal to any CFC-granted decision.
"Industrias Bachoco believes that high authorities who abide by local laws should handle this issue so our petition can be efficiently expedited. This decision, aside from confusing the general public, does not reflect our operations or our values. We abide by the best cooperative and commercial practices," according to the statement.
Industrias Bachoco is a leading Mexican poultry processor and became a public company in 1997. Headquartered in the Mexican state of Guanajuato, the company’s main business lines include chicken, eggs, turkey and value-added beef products. Industrias Bachoco owns nine productive complexes and 64 distribution centers in Mexico, along with one complex in the U.S.
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