Tribunal cracks down on excessive maize meal pricing

  • 📰 IOL
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 51%

South Africa Headlines News

The Competition Tribunal has clamped down on Cambridge Food Jozini, a subsidiary of Massmart Holdings, for excessive pricing of 25kg of maize meal, from R129.99 to R159.99 in April.

Cape Town –

In terms of the order, Cambridge Food Jozini has agreed to reduce its gross profit margin on the 25kg top white maize meal for the duration of the state of the national disaster. “In terms of the order, Cambridge Food Jozini has agreed to reduce its gross profit margin on the 25kg top white maize meal for the duration of the state of the national disaster,” said Makunga.

“The commission urged firms to comply with the Competition Act during the state of national disaster and desist from exploiting consumers,” said Makunga. “This was made easier by the fact that the ‘no admission settlement’ involved a contribution of R24 947 to a charity in Jozini.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 46. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

KZN food store told to donate essential goods for hiking price of maize mealIn terms of the order, Cambridge Food Jozini has agreed to reduce its gross profit margin on the 25kg Top White maize meal for the duration of the state of the national disaster, the commission said.
Source: SowetanLIVE - 🏆 13. / 63 Read more »

KZN food store told to donate essential goods for hiking price of maize mealCambridge Food in Jozini, northern KwaZulu-Natal, has been ordered to donate to a charity organisation for charging excessive prices for maize meal.
Source: TimesLIVE - 🏆 28. / 59 Read more »

Divorce: Woman’s excessive demands shot down by judgeBeing used to a lavish lifestyle, the woman demanded R130 000 maintenance a month, pending the divorce.
Source: IOL - 🏆 46. / 51 Read more »

Fuel price increase set to cost agriculture sector up to R1bnThe fuel price hikes will push up farmers' input costs and will filter through to food prices
Source: BDliveSA - 🏆 12. / 63 Read more »

Zimbabwean novelist Tsitsi Dangarembga decries state ‘chokehold’ after her arrestState's neglect and mismanagement mean Zimbabweans are unable to afford a decent meal and health care, says Dangarembga
Source: BDliveSA - 🏆 12. / 63 Read more »

Tipping the scales: what it takes to babysit the most trafficked animalThe future of pangolins may look grim, but a lucky few gets a second crack at life and freedom
Source: SundayTimesZA - 🏆 47. / 51 Read more »