There is no collusion to fix prices in its industry‚ Karan Beef said on Monday‚ after its head office was raided by the Competition Commission as part of an investigation into allegations of price fixing.
“I am surprised that the Competition Commission initiated this investigation. I don’t believe that there is any collusion to fix prices either in the purchase of weaner calves‚ or in the sale of our beef products. If anything‚ Karan Beef is in fierce competition with other producers in the beef industry implicated in this investigation‚” said Arnold Pretorius‚ CEO of Karan Beef.
Pretorius added‚ however‚ “I respect the work of the Competition Commission to protect South African consumers‚ particularly those most vulnerable to food inflation.”
Karan Beef said in a statement it has co-operated fully with the Competition Commission’s investigation and provided all the documents and any information that they required. The Competition Commission officials arrived at Karan Beef’s head office on Wednesday‚ 14 June 2017‚ to start their investigation into allegations of price fixing in the beef industry.
Full Content: Business Report
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Geradin Partners Expands Paris Office with Key Hire
Aug 30, 2024 by
CPI
Judge Accuses Google of ‘Clear Abuse’ in Antitrust Case Over Deleted Employee Chats
Aug 29, 2024 by
CPI
Hong Kong Cleaning Company Employee Charged in Historic Antitrust Investigation Case
Aug 29, 2024 by
CPI
Inside the Yelp Suit: Allegations of Google’s Abuse of Search Power
Aug 29, 2024 by
CPI
AI Safety Bill Clears Hurdle in California, Heads to Governor’s Desk
Aug 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – State Attorneys General
Aug 22, 2024 by
CPI
CPI Talks… …With Attorney General Phil Weiser
Aug 22, 2024 by
CPI
The Bipartisan Miracle of State Antitrust Enforcement
Aug 22, 2024 by
Gwendolyn J. Lindsay Cooley
Recent Developments in State Antitrust Enforcement: Agriculture and Food Markets
Aug 22, 2024 by
Elizabeth R. Odette
State Attorneys General: Stewards of Consumer Health and Welfare
Aug 22, 2024 by
Brooke Howlett Lovrovich