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Market Manipulation

Competition Commission sues Unilever, 3 other firms 

Published : Friday, 23 September, 2022 at 12:00 AM  Count : 455
Business Correspondent

Bangladesh Competition Commission on Thursday sued Unilever, City Group, Kazi Farm and Paragon and eight individuals for abnormally increasing the prices of rice, flour, egg, broiler chicken and other essentials.
The commission filed 11 cases against the accused and said  that due to the manipulations by the accused the market became unstable.
The accused companies and individuals also face charges  of creating artificial crises in the market.
According to the list obtained from the commission, a case has been filed against Abdur Rashid, owner of Kushtia Rashid Agro Food Product Limited and Belal Hossain, owner of Belcon Private Limited of Belcon Group, Naogaon, for creating crisis in the rice market.
For the same reason, cases were filed against the City Group of Industries and Bangladesh Edible Oil Limited.
On the other hand, the Competition Commission has filed a separate case against City Group for creating crisis in the flour market.
A case was filed against Paragon Poultry Limited, Kazi Farms Group and Amanat Ullah, President of Egg Traders Artdar Bhumukhi Cooperative Society, for creating an artificial crisis in the egg market.
Two separate cases were filed against Paragon Poultry Limited and Kazi Farms Group for creating crisis in the chicken market.

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