Navoiyazot's strategic price manipulation leads to substantial unauthorized revenue

From 2021 to 2023, JSC Navoiyazot did not list mineral fertilizers, polyvinyl chloride, and formalin products on the exchange according to the relevant schedule. Due to the artificial reduction in supply, prices have increased from 10 percent to 50 percent. As a result, the company obtained 20.5 billion UZS in unjustified income.

Navoiyazot JSC, holding a dominant position in the mineral fertilizer market, has been found to manipulate prices in the selling of high liquidity and monopolistic types of products through exchange trading, says the Committee on the Development of Competition and the Protection of Consumer Rights.

In particular, from 2021 to 2023, mineral fertilizers, polyvinyl chloride, and formalin products were not put up for sale in the periods and volumes provided for in the relevant schedules. As a result of this artificial reduction in supply, prices surged by an average of 10 percent to 50 percent. This misconduct led the company to generate a total of 20.5 billion UZS in unjustified income.

A case has been initiated against JSC Navoiyazot, with mandatory instructions to correct and prevent future violations of competition laws, according to the report.

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