In brief
Early resolution agreements have been struck between the Office of Fair Trading (OFT) and some of the supermarkets accused of colluding to bump up the price of dairy products to consumers. Asda, Dairy Crest, Safeway, Sainsbury’s, the Cheese Company and Wiseman admitted involvement in certain anti-competitive practices in the milk, butter and cheese sectors and have agreed to pay fines totalling more than £116m. The OFT says each party will receive a significant reduction in its fine for ongoing full co-operation. The OFT continues to look into the involvement of Lactalis McLelland, Morrisons and Tesco in the dairy scandal.
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