OFT drops farming packaging probe

The Office of Fair Trading (OFT) has dropped a competition probe involving British Polythene Industries (BPI), the company has confirmed.

The Greenock-based firm was raided last year by officials from the European Commission and the OFT.

The move was part of a wider investigation into the agricultural packaging sector.

The European Commission is continuing its own inquiry into the sector, according to BPI.

Among other products, BPI produces balewraps, silage bags, field tunnel covers, greenhouse control films, crop covers and mulch films.

In a stock market announcement, BPI said: "The company welcomes the Office of Fair Trading's update today that it has closed its inquiry into the agricultural films market.

"This does not affect the European Commission's inquiry into the agricultural films market, which remains ongoing.

"It is not possible at this stage to ascertain the likely timetable for resolving matters with the EC."