Egyptian Competition Authority busts 21 egg producers accused of price-fixing

The Egyptian Competition Authority (ECA) on Monday uncovered a collusion scheme involving 21 major table egg producers. The producers, members of the General Union of Poultry Producers, had conspired to collude horizontal price-fixing the selling prices of table eggs.

The authority said in a statement that it had filed a criminal lawsuit against the producers, accusing them of violating competition laws. The collusion led to artificially high prices for table eggs, harming consumers.

The investigation revealed that the producers had agreed on prices daily, coordinating through various channels, including social media. The producers manipulated the market to increase profits, disregarding supply and demand dynamics.

ECA emphasised the importance of fair competition and condemned the producers’ actions. The authority said it would continue to monitor the market and take action against any further violations of competition laws.

Attribution: The Egyptian Cabinet