In a significant move to uphold fair competition, the General Authority for Competition has levied a hefty fine of SR10 million on Al-Moknaz Fodder Trading Company. The company was found guilty of abusing its dominant market position to manipulate competition, control prices, and create artificial scarcity or abundance of goods.

The Board of Directors initiated an investigation following complaints against the company, leading to the case being referred to the Committee for Adjudication of Competition Law Violations. Upon thorough examination, the committee determined that the company had violated Paragraph 3 of Article 6 of the Competition Law, which strictly prohibits the exploitation of dominant market positions to hinder competition and manipulate product availability and pricing.

As a consequence, the committee issued the decision to impose the SR10 million fine on the commercial company, and the judgment was upheld by the Administrative Appeal Court in Riyadh, dismissing the company's appeal against the penal action.

The General Authority for Competition urges all businesses to adhere to the Competition Law and its regulations, fostering fair competition that supports consumer choices and enhances market efficiency with transparency and integrity. A compliance guide is available on the authority's website for establishments to familiarize themselves with the regulations and ensure ethical business practices.