Fri, Oct 04, 2002 - Page 10 News List

Lockout may cause high food prices

US PORT CLOSURES Local importers of American agricultural products are worried that supplies may dwindle and may be tempted to begin hoarding and raising prices

By Kevin Chen and Angelia Chen  /  STAFF REPORTERS

The Cabinet-level Fair Trade Commission said it is paying close attention to rumors of hoarding and price-hikes, said Chen Chi-yuan (陳紀元), the commission's vice chairperson.

"We really don't encourage importers to make that move ... it is against the law," Chen said.

He said that companies engaged in hoarding and unnecessary price-hikes can be fined between NT$50,000 and NT$25 million.

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