FCCPC: Poultry, packaging cartels fixing prices Okon Bassey in Uyo Stakeholders have raised the alarm over rising prices of consumer goods in the country, blaming the development on the inability of relevant government agencies to regulate the activities of business owners and traders. However, the Federal Competition and Consumer Protection Commission (FCCPC) has blamed manipulation of the market by a “cartel in the poultry industry to keep the prices high in the country.” The Executive Vice Chairman/Chief Executive Officer of FCCPC, Mr Tunji Bello, disclosed this at a stakeholders’ meeting held yesterday in Uyo, Akwa Ibom State capital.
He said the meeting was the continuation of the nationwide advocacy by the commission against exploitative pricing in the market. Their findings, he said, were based on investigation by the poultry cartel consisting of big holders that dictate the price for the small holders to sell their products. Bello said, the small poultry owners used to sell a day-old chick for between N480 and N590 and still made profit.
He said two big players in the market brought in big money and expanded the market and expectedly they were soon in a position to control 80 to 90 per cent of the poultry market in the city. He told participants including captain of industry, MSMEs, market leaders, farmers, transporters, service providers and non-governmental organisations (NGOs), that two big poultry players, “used their clout and financial muscle to hijack t.