Concerns as food prices soar

The Competition Commission says it is concerned about the rising food prices and remains vigilant to unjustified increases.

In its essential food price monitoring report released this week, the commission looks into the retail and wholesale prices of, among others, meat, bread, maize meal, fruit and vegetables.

From January to December 2022, the retail price of white bread increased from R15.47 to R18.62, an increase of 20%.

“Over the same period, the wholesale price went from R11.31 to R12.97, a 15% increase,” the commission report reads.

“The retail price of brown bread in 2022 increased faster than the wholesale price from January to April, resulting in a widening spread.

“In January 2022, the retail price was R13.99 and went to R14.93 by April. Over the same time, the wholesale price remained stable at R11.67.”

Onion prices increased steadily from January to August, however, prices shot up from August to November before coming down slightly in December.

“It is unclear what is driving the price of onions as these increases appear to be more than simply seasonal variations,” the commission statement continues.

The price of maize meal is reported to have increased steadily over 2022 following a period of declining prices in 2021.

“From January to December 2022, maize meal prices increased by 32%, from R26.62 to R35.19.

“The bulk of this increase took place in the second quarter of the year when prices went from R28.01 to R33.61 from April to June 2022.

“Maize meal prices were volatile for the rest of the year and remained at a higher price point,” said the report.

Apart from the ongoing investigations, the commission said it would conduct a market inquiry into fresh produce as of this month.

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