FTA Established to Curb Pre-Olympic Price War

Members of Beijing's Fisheries Trade Association will forego sales profits until June in an effort to curb rising food prices prior to the Olympics, the newly formed group announced on Friday.

The 500 members of the FTA, under the Beijing Federation of Industry and Commerce, vow to supply the Olympic dining halls with 3,000 metric tons of product at cost. The move will cost fish traders an estimated $29 million.

Xu Heyan, chairman of the association, told the China View the group hopes to avert a price war among suppliers leading up to the Olympic Games. The FTA also will inspect fish farms and monitor processing and transportation of product through the supply chain.

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