SCPEC Penalizes Mokonat In The Amount Of 20 Million Drams For Abuse Of Dominating Positions
20.09.2011,
03:13
Armenia’s State Commission for Protection of Economic Competition (SCPEC) ruled today to penalize Mokonat company in the amount of 20 million drams for abuse of its dominating positions at the market.
YEREVAN, September 19. / ARKA /. Armenia’s State Commission for Protection of Economic Competition (SCPEC) ruled today to penalize Mokonat company in the amount of 20 million drams for abuse of its dominating positions at the market.
A study commissioned by SCPEC found that for a long time this company sold instant coffee at different prices, using actually a dumping in a bid to oust its rivals from the market. As a result it took a dominant position in terms of instant coffee imports.
The Commission’s experts made an interesting discovery. Particularly, according to the submitted documents, the company paid 820 drams per one box of coffee but sold it at 620 drams, but after reaching the leading position in the market, the company dramatically raised the price four times for the same coffee to 3,3000 drams. The study showed that this company acted with apparent violations of law and received super profits.
The Commission also found that purchase and sale prices obviously did not correspond to actual market prices. This in view the Commission sent the files to the State Revenue Committee. Mokonat has also shares in imports of frozen fish, frozen meat and rice. ($ 1 - 375.3 drams). –0--
A study commissioned by SCPEC found that for a long time this company sold instant coffee at different prices, using actually a dumping in a bid to oust its rivals from the market. As a result it took a dominant position in terms of instant coffee imports.
The Commission’s experts made an interesting discovery. Particularly, according to the submitted documents, the company paid 820 drams per one box of coffee but sold it at 620 drams, but after reaching the leading position in the market, the company dramatically raised the price four times for the same coffee to 3,3000 drams. The study showed that this company acted with apparent violations of law and received super profits.
The Commission also found that purchase and sale prices obviously did not correspond to actual market prices. This in view the Commission sent the files to the State Revenue Committee. Mokonat has also shares in imports of frozen fish, frozen meat and rice. ($ 1 - 375.3 drams). –0--
