[LISTEN] Beef companies face charges for cartel conduct
Competition Commission's Makgale Mohlala said the agreement between these two beef producer has resulted in Karan Beef no longer being a competitor in the market.
JOHANNESBURG - The Competition Commission has taken action against beef producers Karan Beef and I&J for conspiring to corner certain segments of the beef-supply market. Karan has admitted guilt and paid a fine of R2.7million.
Speaking to CapeTalk's Kieno Kammies, Makgale Mohlala, commission's chief cartel investigator, said the agreement between these two beef producer has resulted in Karan Beef no longer being a competitor in the market, leaving the market for I&J.
“Consumers will suffer because when I&J is the only player in the field and no longer facing competition from Karan Beef, they will have a choice of how they want to price their products because they have no competition.”
Listen to the audio above for more.