Seven companies allegedly deceived thousands of Colombians regarding the price they pay for rice and are now being investigated by the Petro government.

The Colombian Superintendency of Industry and Commerce (SIC) has initiated an investigation into seven companies within the rice sector. The regulatory body has formulated charges against these entities based on preliminary evidence suggesting they have been purchasing paddy rice at prices below the government-mandated minimum. This action represents one of the first formal proceedings of its kind regarding price regulation compliance in this industry.

The investigation centers on allegations that these companies have engaged in practices that negatively impact producers by failing to adhere to established price floors. The government's intervention aims to address potential financial harm to thousands of rice farmers who rely on these regulated minimums to ensure fair compensation for their crops.