Competition Commission raids margarine, oil manufacturers
The five firms in Gauteng & KZN are suspected of being involved in cartel conduct which include price fixing.
JOHANNESBURG - The Competition Commission as raided five manufacturers of margarine, edible oils and baking fats.
The firms in Gauteng and KwaZulu-Natal are suspected of being involved in cartel conduct which include price fixing.
The alleged irregularities are believed to have started before 2007 and are still on going.
The competition commission says it has reasonable grounds to suspect that firms, including Africa Sun Oil Refineries and Epic Foods, are involved in a price fixing syndicate.
The Commission’s Bukhosibakhe Majenge says: “The price fixing appears to have taken the form of increasing the prices at almost the same time.”
Majenge says several documents and other items were seized during the raid and will now be analysed: “The next step is that the commission will access the documentation that has been seized.”
The Competition Commission says it’s determined to eliminate the exploitation of consumers by syndicate that have become prevalent in the Food and Agro Processing Sector.
(Edited by Zamangwane Shange)