Competition Commission to probe fresh food prices
The Competition Commission will launch an investigation into South Africa’s fresh produce food market.
The commission says the probe follows concern over price levels and volatility of pricing for fresh produce in South Africa.
The price of food has been in the spotlight amid rising inflation – some of it due to the war between Russia and Ukraine which has led to an increase in fertiliser prices.
Competition Commission spokesperson Sipho Ngwema says the investigation seeks to determine how various factors impact prices and efficiency.
“The commission is of the view that the Fresh Produce Market Inquiry is essential in order to understand the state of competition within the industry, the market features affecting price outcomes, and the challenges currently faced by farmers, especially small-scale and emerging farmers.
"More broadly the importance of the sector to both the economy and employment, and the nutrition and welfare of its citizens gives further weight to the need for such an inquiry.
ALSO READ:
“Agriculture plays a significant role in the South African economy as it contributes to food production, job creation, raw material supply to agro-industrial and manufacturing sectors, as well as export-driven foreign exchange income.”
