GAC imposes SAR 10 mln fine on fodder company

Logo of General Authority for Competition (GAC)

The General Authority for Competition (GAC) announced imposing a fine worth SAR 10 million on Almaknaz Commercial Fodder Co. for the latter’s abuse of its dominant position. 

The company controlled the market’s bran supplies and confined sales to a very limited number of customers, which monopolized the commodity and restricted prices, the authority said. 

GAC added that Riyadh Court of Appeal issued a judgment condemning the company and turning down the lawsuit filed by the latter against the court decision.