Share

Commission raids fats and oils firms in cartel probe

Cape Town – The Competition Commission said it is conducting a search and seizure operation at five companies involved in the manufacture and distribution of refined edible oils, baking fats and margarine in Gauteng and KwaZulu-Natal on Thursday.

The Commission suspects that Wilmar Continental Edible Oils and Fats, DH Brothers Industries (Willowton Oil and Cake Mills), FR Waring Holdings, Africa Sun Oil Refineries and Epic Foods have engaged in cartel conduct.

It said in a statement this cartel conduct “includes price-fixing in the market for the manufacture and distribution of refined edible oils including baking fats and margarine”.

“The alleged conduct is believed to have started before 2007 and is still on-going.”

“The search and seizure operation is conducted as part of an ongoing investigation which was initiated by the commissioner,” it said on Thursday.

“During the search the commission will seize documents, records and electronic data which will be analysed, together with other information gathered, to determine whether these companies have contravened the Competition Act.

“Food and agro-processing is an important focus area for the Competition Commission, and we are determined to root out exploitation of consumers by cartels that are so prevalent in this sector,” said Competition Commission Commissioner Tembinkosi Bonakele.

“We have, in particular, been monitoring developments in the fats and oils markets and what we see is worrisome.”

Read Fin24's top stories trending on Twitter:

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.91
+0.1%
Rand - Pound
23.87
+0.1%
Rand - Euro
20.37
+0.3%
Rand - Aus dollar
12.31
+0.2%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders