Del Monte banana fine cut, but Dole's penalty is upheld

A worker checks on young banana saplings in a nursery of a new banana plantation in Honduras The European Commission imposed the fines in 2008

Related Stories

Fruit producer Del Monte has won a cut in its 14.7m-euro (£12.6m) European Union fine for rigging banana prices.

The EU General Court ruled Del Monte's fine be cut to 8.82m euros due to the company's co-operation with regulators and mitigating circumstances.

However, a 45.6m euros fine on Dole Food was upheld. The company denies wrongdoing and has said it will appeal.

In 2008, the European Commission fined the companies for price collusion in eight EU countries.

In a statement, Dole's president C. Michael Carter said: "We strongly believe that the European competition laws were not violated and we will appeal this decision to the EU Court of Justice.

"The General Court's decision treats discussions about general market conditions the same as a price-fixing cartel."

The companies were found to have been involved in price fixing between 2000 and 2002.

More on This Story

Related Stories

More Business stories


Features & Analysis

Elsewhere on the BBC

  • The AmericansThe good guys?

    A US TV show examining the Cold War is offering a radical revision of history, writes Eric Kohn


  • Virtual courtroomClick Watch

    The 'forensic holodeck’ system that recreates crime scenes as 3D virtual worlds

Copyright © 2015 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.