22:29 / 10.05.2021
Antimonopoly Committee sues 34 cotton clusters for artificially raising prices of industrial plant seeds

The Antimonopoly Committee has studied the sharp increase in prices for cottonseed oil, the Committee’s press service reported.

In April, 40 cotton and textile clusters put cotton seeds up for auction at UZEX. The starting price of the product increased by an average of 38% since then.

The prices increased, mainly, due to external factors. But some entrepreneurs, taking advantage of the situation, unreasonably raised the price of cotton seed and, consequently, cottonseed oil.

On the grounds of an agreed artificial increase in the starting price and violation of the requirements of competition law, the Antimonopoly Committee opened cases against 34 cotton clusters.

Earlier, it was reported that the procedure for import and production of plant oil was simplified, export was limited. It is expected that these measures will help contain the rise in prices and meet the needs of the population for oil.