Nestle told just-food this morning (3 April) that it is waiting to hear if it is being investigated by the Panamian government over accusations of price fixing.
According to a statement released by Panama’s Consumer Protection Authority (ACODECO), the regulator is probing Nestle and three local food companies.
The watchdog said it has launched a probe due to “suspected monopolistic practices, consistent with the exchange of information and fixing and imposing prices for the purchase of wholesale milk from producers”.
However, ACODECO has not yet contacted Nestle, the Swiss food giant said.
“We have not been contacted by the authorities in Panama,” a Nestle spokesperson said. “If we are contacted this could lead to an investigation, but without more information on what the accusations are it is hard to comment further.”
If found guilty, each company could face a fine of up to US$1m.