Tuesday, 14 July 2015 06:00

Stock firms under fire

Written by 

LIvestock firms PGG Wrightson, Elders New Zealand (Carrfields) and Rural Livestock are facing claims of price fixing by Commerce Commission. 

The commission is the country’s competition regulatory agency. On its website it describes its purpose as, “…enforcing legislation that promotes competition in NZ markets and prohibits misleading and deceptive conduct by traders”.

It claims that the three livestock firms fixed fees charged during the implementation of the NAIT national livestock tagging scheme. Its consumer protection authority is investigating fees charged during the adoption of the scheme.

A spokesman for the commission says it will file proceedings against the three companies and five undisclosed individuals before the end of July. 

In a statement to Rural News the commission said: “The commission can confirm that its investigation into alleged price fixing by NZ livestock companies is in its final stages.  The commission expects to file proceedings against PGG Wrightson, Elders New Zealand and Rural Livestock Ltd and five individuals by the end of July. We cannot comment further at this time.”

Last week PGG Wrightson advised that the commission believed it had breached the Commerce Act over how it charged fees during the scheme’s implementation.

More like this

Wool auctions back in action

Wool trading on both sides of the Tasman is back up and running after a cyberattack on industry software provider Talman.

Featured

 

» The RNG Weather Report

» Latest Print Issues Online

The Hound

Fat chance

OPINION: This old mutt has always believed that any hopes of a possible free trade deal – that is any…

Health & safety?

OPINION: WorkSafe and workplace safety legislation dominate the daily operations of the private sector, including farms.

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter

Popular Reads

Honda to quit ATVs in Aus

Honda Australia has signalled it will stop selling quads/ATVs in that country as the discussion about the effectiveness of Crush…