The Spanish competition commission (CNMC) has reportedly imposed a fine of €1.7 million to Bodegas José Estévez for partaking in what has been described as a 'sherry cartel'.
According to efeempresas.com, the winemaker has been accused of "establishing market quotes for exporters", fixing prices through "the assigning of a minimum reference price for offers to customers" and of exchanging information with "the final goal of increasing prices", the CNMC stated.
"The cartel not only had the objective of distorting the competition, it managed to achieve it, since the bodegas affected by it controlled 90 per cent of this markets' exports," said the CNMC.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Gabriela Guédez. To subscribe to ESM: The European Supermarket Magazine, click here.
