October 13, 2016 / 9:31 AM / 10 months ago

Indonesia anti-monopoly watchdog says 12 poultry firms guilty of cartel practices

JAKARTA, Oct 13 (Reuters) - Indonesia's anti-monopoly watchdog said on Thursday that 12 poultry companies including PT Charoen Pokphand Indonesia Tbk, PT Japfa Comfeed Indonesia Tbk and PT Malindo Feedmill Tbk were guilty of cartel practices.

The Commission for the Supervision of Business Competition (KPPU) fined the companies, which included chicken breeders and poultry feed producers, a total of nearly 120 billion rupiah ($9.2 million) for allegedly agreeing to cut production or supply to raise prices.

Of the 12 companies, Charoen and Japfa were handed the biggest fines of 25 billion rupiah each.

Harjon Sinaga, a lawyer representing Charoen, said the company was not involved in the cartel practice.

A Japfa spokesman said the relevant executives were not available to comment. Malindo did not immediately provide a comment.

$1 = 12,983.00 rupiah Reporting by Bernadette Christina Munthe; Additional reporting by Fransiska Nangoy; Writing by Eveline Danubrata

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