Dairy Price Fixing
In December 2007 Asda, Sainsbury's and other retailers admitted to price fixing dairy products between 2002 and 2003.
Asda commented, "Everyone at Asda regrets what happened, particularly as we are passionate about lowering prices. Our intention was to provide more money for dairy farmers, who were under severe financial pressure at the time." So far in total these retailers have been fined £116 million.
Tesco, Morrisons and dairy company Lactalis McLelland denied any involvement in price-fixing; however, the Office of Fair Trading (OFT) says it will carry on its investigation. It was announced that the alleged price-fixing cost consumers £260 million.
Read more about this topic: Asda
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