BASF, others raided in India over alleged vegetable seeds price fixing - sources

📆 9/8/2021 2:05 PM
📰 Reuters

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India's antitrust watchdog on Wednesday raided local offices of several vegetable seed companies including a unit of Germany's BASF in a case related to alleged price collusion, two sources with direct knowledge of the matter told Reuters.

A security guard stands outside the Competition Commission of India headquarters in New Delhi, India, January 13, 2020. REUTERS/Adnan Abidi

in a case related to alleged price collusion, two sources with direct knowledge of the matter told Reuters.and at least three other vegetable seed companies in an operation across the country that included the satellite city of Gurugram near New Delhi, IT hub Bengaluru and the southern city of Hyderabad, the sources said.

After Reuters published details of the raid, shares in BASF India extended losses to as much as 3.7%, before recouping some of them to close down 2.1% in Mumbai trading.The names of the other companies being raided were not immediately clear.

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