Page 45 - 2024 ANNUAL REPORT FAIR TRADE COMMISSION

6. Monitoring and stabilizing commodity prices
Commodity prices are an important issue in the maintenance of economic growth and stabilization of social order. As a government agency, the FTC is obliged to join in efforts by other agencies to stabilize commodity prices. In 2024, the FTC’s Special Task Force for Prevention of Commodity Price Manipulations continued to function and participated in the operations of the Price Stabilization team and the Joint Commodity Price Audit Team of the Executive Yuan to investigate if there was any price gouging to prevent businesses from engaging in concerted actions and affecting the supply-demand function in the markets.
(1) The Price Manipulation Prevention
Task Force of the Commission
continued to operate and keep
a close watch on changes in
the prices of important daily
commodities in the country. Three
special project meetings were
convened in 2023 to step up the
surveillance of prices of important
commodities, such as agricultural
and animal husbandry products,
wheat, soybeans, cooking oil,
sugar, powdered milk, bottled LPG, oil products and products for annual special occasions, as well as more carefully understand market conditions.
(2) The task force continued to attend meetings of the Price Stabilization Committee and work with the Ministry of Justice, Ministry of Agriculture, Ministry of Economic Affairs, Ministry of Finance and Consumer Protection Department through a division of labor. It also established an audit team to implement price stabilization measures. The task force presented a report on Measures Taken to Stabilize Commodity Prices around the Chinese New Year.
(3) The Commission executed the plan to audit the production conditions and the marketing of important agricultural and animal husbandry products for the Chinese New Year, Dragon Boat Festival and Moon Festival. Visits were paid and letters to respect market mechanisms and not engage in any conduct in violation of the regulations against concerted actions. News tickers were also displayed on TV to urge related businesses not to engage in concerted actions.
(4) The task force investigated illegal activities to deter similar attempts and visited markets at the right time to understand and monitor the entire process from production to marketing and find out whether there were concerted actions, or evidence of monopolization or other unlawful acts.
The FTC visiting Dihua Street to inspect the demand for and supply of Chinese New Year commodities
Important Achievements in 2024
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