Some companies took advantage of the situation and unreasonably increased prices.
As it was previously reported, prices for sunflower and cottonseed oil in Uzbekistan rose sharply. The Antimonopoly Committee named the situation in foreign markets as the main reason.
Recently, the press service of the committee reported that experts have also identified signs of violation of competition. In particular, companies selling cotton seeds took advantage of the situation and unreasonably increased prices or artificially restrained supply on the market.
A working group created in the committee began to study the situation in order to find out whether the textile clusters and cooperatives have agreed to artificially influence prices and agree on production volumes. In order to prevent an increase in prices for cottonseed oil, the Antimonopoly Committee, as a first-priority measure, limited the volume of purchases of cottonseed oil on the commodity exchange by one buyer to three tons.
The committee also promised, if detected, to take action against companies and individuals who unreasonably raise prices.