07 Jun 2011The Competition Commission has fined five players in the grain storage industry a total of R21,2m for fixing the daily grain storage tariff meant for the South African Futures Market (Safex).
The commission reached settlement agreements — subject to approval by the Competition Tribunal — after the five companies admitted to anticompetitive behaviour in fixing the daily Safex grain storage tariffs along with the rate for the physical grain storage market. This denied farmers the opportunity to find cheaper storage facilities.
http://www.businessday.co.za/articles/Content.aspx?id=145001
