Cosatu calls for maize price investigation

2016-01-21 06:00

Congress of South African Trade Union s (Cosatu) is concerned that traders are using the drought to manipulate maize price increases.

Cosatu WC secretary general Tony Ehrenreich called for an investigation into the pricing of maize sayin it was “clearly being manipulated by traders who are buying and selling amongst themselves”.

“We believe there can be no other reason that justifies an increase of R150 per ton when all other factors driving cost remain the same except local purchases of 70 000 tons,” he said.

Ehrenreich said they want the trading of maize to be made public so there can be an understanding of how the pricing worked and see who was driving price increases through purchases.

“These purchases should be publicly available. We calls on the Competition Commission to investigate the pricing model of the maize and the prices on the SAFEX and the JSE,” he said.

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