NEWS

AGNO offer churns market

Changes in the dairy market are expected to take place soon after news that milk producer AGNO will slash its wholesale prices by up to 35 percent for products being sold at smaller retail points. The retail price of the milk sold at supermarkets is normally around 1.20 euros per liter, while smaller retailers, such as bakeries and kiosks, offer the same product for about 0.20 euros more. AGNO is offering smaller stores a deal to sell the milk for 0.89 euros per liter. Suspicions of prices being kept artificially high in the market have surfaced recently after claims that a Competition Commission official had been seeking bribes from a dairy producer to keep a lid on price-fixing practices in the industry. The results of the Competition Commission investigation into the issue is expected next month.