The world’s largest producers of farmed Atlantic salmon are preparing to defend themselves against EU allegations of price-fixing at a hearing in Brussels next week.
The hearing will be held behind closed doors and comes eight months after the companies received formal statements of objection from the European Commission, accusing them of colluding to exchange sensitive information related to pricing and production volumes between 2011 and 2019, sources familiar with the matter have told Reuters.
The charges, which target spot market sales of Norwegian farmed Atlantic salmon, could result in hefty fines for the companies involved.
In its charge sheet, the European Commission alleged that Mowi, Mitsubishi-owned Cermaq, Grieg Seafood, Bremnes, Leroy, and SalMar shared confidential information about sales prices and production volumes.
EU Commission suspects Mowi, Cermaq, Grieg, Leroy and SalMar of violating antitrust rules
The alleged practices concern the sale of fresh, whole, and gutted salmon farmed in Norway, which supplies nearly 80% of the Atlantic salmon imported by the EU. The accusations do not involve long-term contract sales but are focused on the spot market.
SalMar has publicly stated it “strongly disagrees” with the Commission’s findings and will present its case at the hearing. Grieg Seafood also confirmed it would attend the hearing and reiterated that neither it nor its subsidiaries had engaged in any form of anti-competitive behaviour.
Mowi, the largest salmon producer in the world, has not issued a fresh comment on the hearing, but in a statement in January, the company wrote: “Mowi contests the Commission’s preliminary view and the characteristics of the alleged behaviour in the market for farmed Norwegian Atlantic salmon, and strongly believes there has been no infringement of the competition rules,” wrote the company in a statement issued on Thursday
Cermaq, Bremnes, and Leroy have not responded to requests for comment.
All six companies could face fines of up to 10% of their global turnover if the EU competition authorities rule against them.
This is not the first time these companies have faced scrutiny for alleged price-fixing. In 2022, they collectively paid $85 million to settle antitrust claims from US salmon purchasers. Additionally, a group of UK retailers announced earlier this year that they plan to seek damages over the alleged cartel activities. Meanwhile, the U.S. Department of Justice concluded its investigation into the matter last year without pursuing further action.
