In its latest report about food price, SA's competition watchdog notes that local retailers are still earning higher profit margins than in the UK and Ireland. SA's competition watchdog still believes food is pricier than it should be – due in part to large profit margins among retailers and producers, along with a lack of competition. However, there is also some recognition that the cost of load shedding is keeping prices high, even as global food costs fall. In the Competition Commission's latest report on essential food prices, it finds that the price of bread, maize meal and cooking oil are not cooling as fast as the sharp decline in global commodity prices. The commission points out that local retailers' profit margins remain higher than in countries like the UK and Ireland.

Source: News 24 September 17, 2023 08:18 UTC