The accused companies face potential fines of up to 10% of their global turnover if found guilty of breaching EU antitrust rules

Norwegian Salmon Producers to Challenge Cartel Accusations at Brussels Hearing

EUROPEAN UNION
Wednesday, September 18, 2024, 00:10 (GMT + 9)

BRUSSELS – Norwegian salmon producers, including Grieg Seafood and SalMar, are set to challenge EU cartel allegations in a closed-door hearing scheduled for September 15-18 in Brussels. These companies, along with others like Mowi and Leroy, face accusations from the European Commission of price-fixing and exchanging sensitive information in violation of antitrust laws, according to sources and company statements cited by Reuters.

The hearing, overseen by senior antitrust officials from the European Commission and national watchdogs, follows the issuance of a statement of objections in early 2023. The charges stem from alleged actions between 2011 and 2019, during which the companies are accused of sharing commercially sensitive details, such as sales prices and production volumes, specifically relating to the spot market for fresh Norwegian farmed Atlantic salmon sold within the EU.

Notably, these accusations pertain only to spot market transactions and do not involve long-term contracts. Norwegian producers are responsible for over 50% of global Atlantic salmon farming, with the EU serving as their primary market.

SalMar has strongly rejected the Commission’s preliminary findings and intends to present its counterarguments at the hearing. Grieg Seafood has similarly denied any wrongdoing and confirmed its participation. Mowi declined to comment, while the remaining companies, including Bremnes and Mitsubishi Corp's Cermaq, have not yet responded.

The accused companies face potential fines of up to 10% of their global turnover if found guilty of breaching EU antitrust rules. These allegations follow a 2019 raid by EU authorities and a subsequent $85 million settlement in 2022, related to U.S. antitrust claims from salmon purchasers. The U.S. Department of Justice, however, closed its investigation earlier this year without taking further action.

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