Finland's Supreme Administrative Court has upheld the verdict of Market Court to impose a fine of €70m on dairy firm Valio for misuse of its leading position in the country's fresh milk market.

This decision puts an end to the dispute between Valio, competition authorities and rivals over the price of wholesale milk.

Valio allegedly sold milk at below-production wholesale prices from 2010 and 2012, reported YLE News.

"The sanction will not affect the price paid for raw milk to the dairy farmer entrepreneurs."

The decision by the court would enable Valio's rivals to file cases in the Helsinki District Court, seeking financial compensations for the damages caused by the firm.

Valio chairman Vesa Kaunisto was quoted by YLE News as saying that "the sanction will not affect the price paid for raw milk to the dairy farmer entrepreneurs."

While expressing disappointment with the decision, Kaunisto stated as the case is closed, it will analyse its investment programme.

Market Court initially slapped fine on the firm in 2014, following which the case was brought before the court by the Finnish Competition and Consumer Authority alleging the company violated the country's competition laws.

The competition watchdog had earlier recommended Valio to either pay its dairy producers less, or improve the price of a litre of milk; however, Valio had rejected both recommendations.

Image: Valio milk factory in Finland. Photo: courtesy of Kotivalo/Wikipedia.