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#187731 - 9th Dec 2007 12:41am
Supermarkets Admit Price Fixing
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Wiki Master
Registered: 14th Aug 2004
Posts: 22315
Loc: Moreton/Beirut/Mobile
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Supermarket firms Sainsbury's and Asda have admitted that they were part of a dairy price-fixing group that earned about £270m extra from shoppers.
The supermarkets, along with a number of dairy firms, have agreed to pay fines totalling some £116m after an Office of Fair Trading (OFT) probe.
Cases against Tesco and Morrisons will continue after no deal was struck.
The OFT said that in-store prices went up after the collusion, but the amount received by farmers did not increase.
However, the firms insist that the farm gate price paid for milk did rise and that they were not ripping off customers.
The OFT said the collusion saw customers being charged 3 pence extra for a pint of milk, 15p extra per quarter-pound of butter and 15p per half-pound of cheese, the watchdog said. The real question is, where is the £270million going to go, you can bet your life its not going to the farmers who so desperatly need it! More stealth revenue for the government no doubt! I think this whole scandel is disgusting, once again in the UK, the authorities let the consumers be ripped off! The only people who have lost out are the consumers, the supermarkets paying what they took illegally is hardly punishment... BBC News Report
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#187763 - 9th Dec 2007 9:36am
Re: Supermarkets Admit Price Fixing
[Re: Sanchez]
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Are you SoNutz?
Forum Master
Registered: 22nd Aug 2007
Posts: 2988
Loc: Birkenhead, United Kingdom
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Its like in the CO-OP im 100% certain that the prices are fixed £2.13 for 6 pints of milk its not about inflation or price rises there just greedy barstard...
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Lee Mills
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#187805 - 10th Dec 2007 2:24am
Re: Supermarkets Admit Price Fixing
[Re: Davey_Martin]
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Forum Guardian
Registered: 11th Jul 2004
Posts: 4006
Loc: New Ferry
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Is this not just normal business: You purchase a product from a supplier, you choose how much profit you want to make, you mark up the item for Sale to acheive that profit, you sell the item for the advertised price, you do not force the customer to purchase the item, you pay you overheads and reap the profits. I dont see the problem.
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#187831 - 10th Dec 2007 3:45pm
Re: Supermarkets Admit Price Fixing
[Re: Waddi]
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Wiki Master
Registered: 14th Aug 2004
Posts: 22315
Loc: Moreton/Beirut/Mobile
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Is this not just normal business: You purchase a product from a supplier, you choose how much profit you want to make, you mark up the item for Sale to acheive that profit, you sell the item for the advertised price, you do not force the customer to purchase the item, you pay you overheads and reap the profits. I dont see the problem. This isnt like that though, this is all the big supermarkets setting a price so the market has no/little competition, which is against the law. This law is in place to protect the consumer and supplier from being ripped off. It is worse with things like milk etc, because people generally dont have a choice as these are essential items that they have to buy. This is why the supermarkets chose these items to price fix. Making 3p extra out something doesnt sound like a lot, but given each supermarket is selling millions of that item per week, it puts the amount of money they have made from it into context.
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