UPDATE: Antitrust inspects sugar producers over price growth

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MOSCOW, Mar 17 (PRIME) -- The Federal Antimonopoly Service has launched anti-cartel inspections at the largest Russian producers of sugar due to a sharp increase in prices for the product, the service said in a statement on Thursday.

“The service has reached anti-cartel inspections of the largest producers of sugar. The inspection measures are going due to a sharp increase in prices for sugar and due to an ungrounded decrease in the stocks of the good on the market,” the service said.

The unscheduled inspections are going on at the Union of Russian Sugar Manufacturers, agricultural holding Rusagro, Rusagro-Center, Prodimex, Dominant group of companies, the Dominant trade house, and ChekhovSakhar, the service said.

Earlier in the day, the service said it was inspecting the supply chain from producers of sugar to retail stores to prevent delays in loading and transportation.

A lack of sugar on shelves of stores in some regions is connected to feverish demand that is being fueled by unfaithful players, the authority said, adding that ungrounded increases in prices and creation of artificial deficits are unacceptable.

If the service discovers any instances of such violations, it will take immediate measures all the way up to turnover-based fines, and it will submit relevant documents to the Prosecutor General’s Office if necessary, the watchdog said.

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