Fyffes has confirmed EU antitrust authorities raided its headquarters as part of an investigation into the banana and pineapples trades in the EU.
Inspections were carried out at premises in Ireland, Germany, Belgium and Britain. The companies were raided by national officials and the commission as part of an investigation into possible price fixing and market sharing that is prohibited by EU law.
A Fyffes spokesman said: "The visits related to a wider enquiry that included all of its principal competitors. Fyffes is co-operating with these enquiries."
Industry analyst Liam Igoe of Goodbody Stockbrokers in Dublin said: "Banana prices have been increasing steadily in the past year due to a number of factors including lower output from the EU and ACP [African, Caribbean and Pacific] sources due to weather related issues."
But he said big European retailers that buy from the fruit firms like Fyffes had had success at keeping prices down.
"In these circumstances, it is difficult to see how a number of fruit companies could exert control here, particularly as the EU market is regulated and the volume of bananas restricted by EU quota," Mr Igoe said.