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07/12/2007
Supermarkets Admit Dairy Price Fixing
Supermarkets Asda and Sainsbury's have agreed to pay multi-million pound fines after admitting fixing the price of milk, butter and cheese, following an inquiry by the Office of Fair Trading.
Asda, Sainsbury's admitted to price-fixing, as did Safeway, prior to its takeover by Morrisons.
Dairy firms, Robert Wiseman, Dairy Crest and The Cheese Company also agreed to pay fines.
The total amount of fines paid will come to more than £116 million. Sainsbury's alone will pay a fine of £26 million.
Another dairy farm, Arla, had applied to the OFT for leniency and they said that it will receive immunity from fines if it continues to co-operate with the investigation.
However, Tesco, Morrisons and dairy firm Lactalis McLelland, have challenged the OFT's findings and the case against them will continue.
The case relates to prices of certain dairy products during 2002 and 2003. The OFT report said that the price-fixing resulted in customers being charged 3p extra for a pint of milk, 15p extra per quarter-pound of butter and 15p per half-pound of cheese. Overall, the cost to consumers is estimated at around £270 million.
Sainsbury's said that the prices were: "designed to help British dairy farmers at a time of considerable economic pressure and public debate about whether farmers were getting a fair price for their products."
Meanwhile, Asda said they regretted what had happened but stressed that their intention was to provide more money for dairy farmers who were under "severe financial pressure at the time".
However, Tesco said that it was vigourously defending its position. Executive Director Lucy Neville-Rolfe told reporters that the company had always said that they had acted independently and had not colluded with anyone.
The National Farmer's Union issued a statement which said: "This was a period of time that was extremely difficult for dairy farmers when prices were very low for a sustained period and there was great pressure on dairy companies and retailers for a farm gate price increase.
"We find it difficult to comment on the precise OFT announcement as we don't have full details and it is likely that the investigation is on going, but clearly these fines could take money out of the supply chain.
"We are pleased to say that the price for milk is now significantly higher, largely due to changes in the global market. There is also much progress being made in developing dedicated and integrated supply chains between dairy farmers, processing companies and retailers."
(KMcA)
Asda, Sainsbury's admitted to price-fixing, as did Safeway, prior to its takeover by Morrisons.
Dairy firms, Robert Wiseman, Dairy Crest and The Cheese Company also agreed to pay fines.
The total amount of fines paid will come to more than £116 million. Sainsbury's alone will pay a fine of £26 million.
Another dairy farm, Arla, had applied to the OFT for leniency and they said that it will receive immunity from fines if it continues to co-operate with the investigation.
However, Tesco, Morrisons and dairy firm Lactalis McLelland, have challenged the OFT's findings and the case against them will continue.
The case relates to prices of certain dairy products during 2002 and 2003. The OFT report said that the price-fixing resulted in customers being charged 3p extra for a pint of milk, 15p extra per quarter-pound of butter and 15p per half-pound of cheese. Overall, the cost to consumers is estimated at around £270 million.
Sainsbury's said that the prices were: "designed to help British dairy farmers at a time of considerable economic pressure and public debate about whether farmers were getting a fair price for their products."
Meanwhile, Asda said they regretted what had happened but stressed that their intention was to provide more money for dairy farmers who were under "severe financial pressure at the time".
However, Tesco said that it was vigourously defending its position. Executive Director Lucy Neville-Rolfe told reporters that the company had always said that they had acted independently and had not colluded with anyone.
The National Farmer's Union issued a statement which said: "This was a period of time that was extremely difficult for dairy farmers when prices were very low for a sustained period and there was great pressure on dairy companies and retailers for a farm gate price increase.
"We find it difficult to comment on the precise OFT announcement as we don't have full details and it is likely that the investigation is on going, but clearly these fines could take money out of the supply chain.
"We are pleased to say that the price for milk is now significantly higher, largely due to changes in the global market. There is also much progress being made in developing dedicated and integrated supply chains between dairy farmers, processing companies and retailers."
(KMcA)
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12 August 2015
New Milk Brand To Pay Percentage Direct To Farmers
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New Milk Brand To Pay Percentage Direct To Farmers
A new milk brand is to be launched that will pay 10 pence-per-litre of the retail price direct to dairy farmers. Launched by supermarket chain Morrisons, the new milk brand will go on sale later this year and is aimed at shoppers who want to directly support dairy farmers.
10 August 2011
Supermarkets Fined In OFT Dairy Price Fixing Probe
Tesco, Sainsburys and Asda are among the supermarkets and dairy processors who have been fined by the Office of Fair Trading following an investigation into the price fixing of dairy products.
Supermarkets Fined In OFT Dairy Price Fixing Probe
Tesco, Sainsburys and Asda are among the supermarkets and dairy processors who have been fined by the Office of Fair Trading following an investigation into the price fixing of dairy products.
09 April 2010
Welsh Dairy Industry Boosted
The Welsh Assembly Government is investing £3.3m into the Welsh dairy industry over the next three years to help efficiency, sustainability and added value in the supply chain.
Welsh Dairy Industry Boosted
The Welsh Assembly Government is investing £3.3m into the Welsh dairy industry over the next three years to help efficiency, sustainability and added value in the supply chain.
05 August 2011
E.ON Increase Prices
E.ON has today announced that it will increase its prices by 11.4% for electricity and 18.1% for gas, with dual fuel customers seeing a rise of 15.2%, effective from 13th September.
E.ON Increase Prices
E.ON has today announced that it will increase its prices by 11.4% for electricity and 18.1% for gas, with dual fuel customers seeing a rise of 15.2%, effective from 13th September.
13 August 2007
House Prices Rise By 12% In June
UK annual house price inflation in June 2007 was 12.1%, up from 10.8% in May 2007. Annual house price inflation in London was 17.5% in June, up from 14.3% in May. The UK annual house price inflation rate for the 3 months to June was 11.3% and 15.1% in London. The UK house price inflation rate rose from 10.8% in May 2007 to 12.1% in June 2007.
House Prices Rise By 12% In June
UK annual house price inflation in June 2007 was 12.1%, up from 10.8% in May 2007. Annual house price inflation in London was 17.5% in June, up from 14.3% in May. The UK annual house price inflation rate for the 3 months to June was 11.3% and 15.1% in London. The UK house price inflation rate rose from 10.8% in May 2007 to 12.1% in June 2007.
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
