Spanish National Competition Agency, CNC, has said that there are signs of price fixing in sherry wines from Jerez. They have made the statement for the third time in two years and are set to fine some of the bodegas involved. The CNC report said ‘there are indications of an agreement on price fixing in the grape and mosto market in Jerez, and now an investigation is underway for ‘possible prohibited practices’ under EU law. An 18 month period has been opened for those implicated to present their cases and for its resolution.It could mean multi-million € fines for the sherry industry totalling upto 10% of their cash-flow for a year.
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