Cooking oil producer Wilmar ordered to pay R1m in price-fixing case
The Competition Tribunal has ordered a South African edible oils producer to pay a R1 million settlement in a long running alleged price-fixing case.
The matter dates back to 2016, when the Competition Commission conducted raids against Wilmar and four other firms in the sector.
The commission suspected the companies had been involved in the alleged activities for nearly 10 years, with some of the alleged activities dating back to before 2007.
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Although Wilmar, which produces the popular Excella brand, does not admit to breaking the Competition Act, it has agreed to pay the penalty as part of a settlement.
“In terms of the consent agreement, Wilmar agrees and undertakes not to engage in any anti-competitive conduct that is in contravention of the Act," the Competition Tribunal said in a statement.
"It will also develop, implement and monitor a competition law compliance programme as part of its corporate governance policy, which is designed to ensure that all employees, management and other functionaries do not engage in conduct that is in contravention of the Act."
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