Armenian fertilizer importing company "Catherine Group" was fined in the amount of 10 million drams.

The State Commission for Protection of Economic Competition has imposed a fine on the fertilizer importing company "Catherine Group" which was recently found to have abused its dominant position on the market.

The company is to pay fine in the amount of 10 million drams ($25,000) for breaching the rules of nitrogen fertilizer import and sale.

“Fertilizers are important in Armenia’s economy and agriculture, and we will closely follow the market, especially now that the agricultural year begins,” the head of the Commission, Artak Shaboyan said in a speech.

The Commission members had earlier ruled to levy a twice bigger fine on the company but they later cut the amount considering that it was the first violation by Catherine Group.