Egypt Public Prosecution Refers Poultry Market Price Manipulation Case to Trial

The Public Prosecution in Egypt has referred several defendants to criminal trial over alleged manipulation in the poultry market following an extensive investigation by the Economic and Money Laundering Prosecution.

The move aims to reinforce market oversight and protect fair competition rules.

The investigation was launched after a complaint from the Egyptian Competition Authority, which indicated that a number of poultry brokers had coordinated to influence prevailing market prices.

Technical and Economic Analysis Reveals Price Parallelism

Authorities relied on a specialized technical and economic study that included detailed statistical analysis of pricing data and trading patterns.

The findings showed a repeated pattern of parallel pricing that exceeded normal market fluctuations.

The analysis determined that the price alignment could not be justified by supply and demand dynamics, geographic differences, or production costs, suggesting prior coordination among the involved parties.

Violation of Competition Law

The Public Prosecution in Egypt stated that strong correlations between issued prices over extended periods indicated coordinated action to raise, lower, or fix prices in violation of competition law.

Witness testimonies and economic findings supported the conclusion that these practices undermined market competition and directly impacted supply and demand mechanisms.

The case is expected to proceed before the competent court in the coming period.