Armenia’s State Commission for the Protection of Economic Competition (SCPEC) handed down heavy fines to three of the country’s largest dairy goods manufacturers for false advertising and unfair competition.

The three companies fined were Ashtarak Milk, Marianna and Ani Milk. The first two companies enjoy an 80% share of the dairy market in Armenia.

The SCPEC also charges the three companies with using imported coconut oil in the making of their dairy products. Coconut oil does not appear as an ingredient on any of the product labels.

The companies used the coconut oil as an inexpensive butter fat substitute.

The SCPEC fined Ashtarak Milk 50 million AMD ($135,000), Ani Milk - 5 million AMD, and Marianna – 20 million.

The fines are the maximum allowed by law.