Statement by Karan Beef on the Competition Commission investigation into allegations of price fixing
The Competition Commission arrived at Karan Beef's head office in Heidelberg on Wednesday, 14 June 2017 to start their investigation into allegations of price fixing in the beef industry.
Karan Beef has co-operated fully with the Competition Commission's investigation and provided all the documents and information that they required. Karan Beef will also co-operate with the ongoing investigation.
"I am surprised that the Competition Commission initiated this investigation. I don't believe that there is any collusion to price fix either in the purchase of weaner calves, or in the sale of our beef products. If anything, Karan Beef is in fierce competition with other producers in the beef industry implicated in this investigation," said Arnold Pretorius, CEO of Karan Beef.
Karan Beef was established in 1974 and is committed to the long-term sustainability of the industry. We pride ourselves on a business that was built on fair and ethical business practices. The trust of our suppliers and our customers is of great importance to Karan Beef. Ultimately supply and demand determines the price of weaner calves and beef products.
"I respect the work of the Competition Commission to protect South African consumers, particularly those most vulnerable to food inflation," said Pretorius.