Supermarket spread price rise rumor in order to help its own promotion for toilet paper: FTC
By: Matthew Strong, Taiwan News, Staff Writer
TAIPEI (Taiwan News) – The Fair Trade Commission (FTC, 公平會) said Wednesday it was
fining supermarket chain RT-Mart (大潤發) NT$3.5 million (US$119,800) for the false announcement of price hikes for toilet paper which caused nationwide shortages.
Consumers fearing imminent price increases lined up at supermarkets across the island and bought as many rolls of toilet paper as they could move, leading to bare shelves for days on end.
As a result of the public outcry, the government investigated five major supermarket chains and three paper producers. An official said the investigation into whether the latter had colluded to raise prices had not been completed yet, and a new round of sanctions might be taken at a later date, the Central News Agency reported.
RT-Mart said Wednesday it would first wait to read the message from the FTC before formulating a reaction. [FULL STORY]