A PYMNTS Company

South Africa: Cosatu calls for probe into increasing maize price

 |  January 19, 2016

Congress of South African Trade Unions has called for competition authorities to investigate the increase in maize prices, saying they’re being manipulated by traders.

The price of maize has roughly doubled in a year as the worst drought in over a century scorches production across key farming regions.

“Cosatu wants the investigation concluded as a matter of urgency and the perpetrators to be jailed for undermining South Africans’ food security through price manipulation,” the federationsaid in a statement.

The price for South Africa’s white maize March contract climbed 2.4 percent yesterday to a record high of more than R5,000 a tonne as concerns over the drought weighed.

Full content: Times Live

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.