Competition Authority makes move on red meat ahead of Ramadan

Competition Authority President Birol Küle drew attention to price volatility in the red meat sector ahead of the upcoming month of Ramadan, stating that the authority could expand its inspections in this area.

Küle warned all parties against price fluctuations, stating, "Ensuring that our citizens can obtain food at reasonable prices is among our priorities."

Küle stated that inspections of the red meat market are conducted in two stages, with experts carrying out unannounced inspections at firms and prices being monitored continuously. Emphasizing that investigations into the agriculture and food sector will continue to increase, Küle said, "If necessary, we will expand our inspections to include more parties."

WARNING AGAINST MANIPULATIVE PRICE HIKES

Referring to statements made by firms and union presidents in the sector regarding prices ahead of Ramadan, Küle noted that they have observed manipulative rhetoric on social media. He stated, "We are closely monitoring all sector stakeholders. I warn them to refrain from behaviors that would cause price increases outside of the supply-demand balance."

PRICE FORMATION AND PENALTIES

The Competition Authority President pointed out that price fluctuations that cannot be linked to costs could violate the Law on the Protection of Competition.

"Our monetary fines can reach very high amounts. Therefore, all stakeholders in the sector must set their prices based on their own costs without being exposed to any other influence," he said, emphasizing that prices must be determined fairly.

News Source: 12punto