Prime Minister orders to investigate case of monopolist who has withdrawn sugar

On August 12, Chairman of the Government of Kazakhstan Alikhan Smailov held a meeting of the Group on demonopolization of the national economy. The participants considered the approaches to strengthening anti-monopoly efforts to address the factors that had affected the sugar market, the press office of the Prime Minister of the Republic of Kazakhstan reported.

Chairman of the Agency for Protection and Development of Competition (APDC) Serik Zhumangarin informed that one of the major wholesale suppliers has bought for profit about 90% of sugar produced by four domestic factories. This was done to withdraw this product from sale, which resulted in the surge in sugar prices.

The price of sugar rose to 800 tenge, while the factories sell it at 420 tenge. Given these implications and in accordance with the instructions of the Prime Minister to determine the details of the incident, the APDC launched an investigation into antimonopoly law violations.

With the aim to stabilize the current situation, it was decided to tighten control over importers and market entities to ensure that they sell small batches of sugar (up to 60 tonnes) through the commodity exchange. The Prime Minister approved the proposed approaches and gave specific instructions in this regard.

15 авг 2022, 13:33
Photo source: primeminister.kz

Ключевые события