Market Chatter: International Flavors & Fragrances Facing Second Antitrust Probe in India

MT Newswires Live15:38

International Flavors & Fragrances (IFF) is facing a second antitrust investigation from India's competition commission related to allegations over price collusion with two other global fragrance companies, Reuters reported Tuesday, citing a confidential regulatory document.

The competition commission document, dated July 22, describes the case as "alleged cartelization" in the Indian fragrance industry by IFF and Swiss-based Givaudan and Firmenich, according to the report.

The latest probe follows an ongoing investigation over the three companies allegedly finalizing labor anti-poaching deals, a source close to the matter told Reuters.

IFF didn't immediately respond to a request for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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