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PCC to probe possible cartel amid high onion prices - Vimarsana News

PCC to probe possible cartel amid high onion prices

Published: February 16, 2023

PNA photo by Robinson Ninal Jr. MANILA - The Philippine Competition Commission (PCC) wants to determine the root cause of high retail prices of onions by investigating possible anti-competitive behavior. The PCC has started its probe for "possible cartel or abuse of dominance conduct" consistent with the House Resolution No. 681 filed by Marikina Representative Stella Luz Quimbo, a former PCC commissioner. "Since November 2022, the Philippine Competition Commission has been investigating the high prices of onion for possible cartel or abuse of dominance conduct," it said in...

Source: philippinetimes.com
Related Topics:
Stella Luz QuimboPhilippine Competition CommissionHouse ResolutionMarikina Representative Stella Luz QuimboPhilippine Competition ActPrice ActPna Photo By Robinson Ninal Jr Manila The Philippine Competition Commission Pcc Wants To Determine Root Cause Of High Retail Prices Onions Investigating Possible Anti Competitive Behavior Has Started Its Probe For Quot Cartel Or Abuse Dominance Conduct Consistent With House Resolution No 681 Filed Marikina Representative Stella Luz QuimboA Former Pcc Commissioner Quot Since November 2022He Philippine Competition Commission Has Been Investigating The High Prices Of Onion For Possible Cartel Or Abuse Dominance ConductUot It Said Ina Statement Thursday The Antitrust Body Launched Its Market Assessment Amid Skyrocketing Onion Retail PricesHich It Observed At An Unusual Price Range Of Php600 Per Kilogram In December 2022 Quot As Prices Are Seen To Stabilize Due The Imports And Srp Set Last Feb 6He Pcc Is Looking Into The Cause Of Such Market Anomaly In Coordination With Sector Regulators And Other Law Enforcement AgenciesUot It Added The Pcc Defines Cartels As Quot Businesses Conniving To Manipulate Market Their Advantage That Cause Significant Harm Consumers By Engaging In Coordinated Anti Competitive Behavior Such Price FixingBid RiggingUtput RestrictionNd Market Allocation Quot On The Other HandBuse Of Dominant Position Is Quot When An Entity Witha Significant Degree Power Ina Market Engages In Conduct That Substantially Prevents R Lessens Competition Quot Both Cartel And Abuse Of Dominant Position Are Prohibited Under The Philippine Act Pca Pcc Said ThatHose Who Will Be Found Conducting Anti Competitive Behavior May Fined Up To Php100 Million And Face Jail Time Of Seven Years Quot The Fines Even Tripled If Trade Basic NecessitiesNcluding Agricultural Products Identified By The Price ActRe Involved In Cartel Or Abuse Of Dominance ViolationsUot It Added Pna