Competition Commission launches probe into soaring food prices

JOHANNESBURG - The Competition Commission has launched an investigation into soaring food prices in South Africa.

The inquiry will investigate market conditions in the country's fresh produce supply chain.

It will look to find any indications of uncompetitive behaviour or price fixing.

READ: Inflation dips again but food prices rise

According to the Commission's Sipho Ngwenya, they have been investigating since COVID-19.

"We did a concentration study on the economy were we also found that in agriculture that a number of farmers are increasing and also the income in regard to the farmers seems to be concentrated in about 6 point something percent," he said.

READ: Farmers fear food security threats due to power cuts

Meanwhile, economist Azar Jammine said global food price inflation has hit a 14-year record high.

He said rolling blackouts are the main contributing factor in South Africa’s case.

Jammine says the agriculture sector is struggling to irrigate crops because of the power cuts while food producers battle with food storage.