US-based Chiquita Brands International has escaped a fine over fixing banana prices in Southern Europe because it blew the whistle on the cartel.

Today (12 October) the European Commission (EC) found that the Chiquita and Pacific Fruit groups operated a price fixing cartel in Greece, Italy and Portugal between July 2004 and April 2005.

Because of this cartel, European consumers did not enjoy the benefits of undistorted competition for nearly a year and were “directly harmed”, the EC added.

Pacific Fruit, which sells bananas under the Bonita brand, was hit with a EUR8.9m (US$12.2m) fine.

“Companies need to be aware that the commission takes its anti-cartel enforcement duties very seriously,” said Joaquín Almunia, vice-president in charge of competition policy.

“There are only two ways to avoid a fine: refrain from joining a cartel or, if you have fallen for it, repent rapidly and inform the commission about it.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

At the time of the infringement, annual banana sales in Italy, Greece and Portugal together amounted to an estimated EUR525m, according to EC figures.

Neither Chiquita or Pacific Fruit could immediately be reached for comment.

This is the second time European authorities have found cartel activities in the banana sector. In 2008 fruit companies were alleged to be fixing prices in Germany and seven other countries.