NewzThe Philippine Competition Commission (PCC) has imposed a record-breaking fine of 1.76 billion pesos, equivalent to approximately 25 million euros, on six companies and several of their executives. The sanctions were issued on October 15 following an investigation that determined the entities operated an illegal cartel to manipulate the onion market.
This penalty represents the largest fine ever levied under the country's competition laws. The enforcement action targets the coordinated business practices that artificially influenced market conditions for the agricultural product, marking a significant move by regulators to address anti-competitive behavior in the food supply sector.
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