Case initiated against “Maxam-Chirchiq” JSC for unjustified increase in fertilizer prices

A case has been initiated against “Maxam-Chirchiq” JSC concerning unjustified price increases in the mineral fertilizers market. This was reported by the Committee for the Development of Competition and Protection of Consumer Rights.

It was reported that due to the non-compliance with the current regulatory documents in the formation of prices for mineral fertilizers produced by “Maxam-Chirchiq” JSC, signs of actions leading to unjustified price increases were identified. This led to an average increase in the prices of mineral fertilizers by 10% to 15%.

Accordingly, a case has been initiated by the Competition Committee against “Maxam-Chirchiq” JSC for signs of violations of the requirements of the Law of the Republic of Uzbekistan “On Competition.”

“Additionally, this factor may directly impact agricultural enterprises (clusters, farmers, and peasants, among others), potentially leading to an increase in the prices of agricultural products. Additional information will be provided after the case is reviewed and a decision is made,” the statement said.

It is worth noting that earlier, signs of manipulation that led to price increases in the sale of technical sulfur products through exchange trading by “Lukoil Overseas Supply and Trading Ltd” were identified, including the inappropriate placement of product volumes in exchange trades, leading to a case being initiated.