JOHANNESBURG, March 1 South Africa's competition
watchdog recommended a fine equivalent to 10 percent of
Unilever's local turnover for price fixing of edible
oils and margarine, it said on Wednesday.
The Competition Commission said it had completed an
investigation, which began in 2014 when it raided the local
units of Unilever Plc and Sime Darby Bhd
because it suspected price fixing.
It found that between 2004 and 2013, the two companies had
an agreement not to compete with each other on certain pack
sizes of margarine and edible oils.
Sime Darby, the world's top palm oil planter, settled with
the Commision last year, the Commission said in a statement.
"Food and agro-processing is an important focus area for the
Competition Commission, and we are determined to root out
exploitation of consumers by cartels that are so prevalent in
this sector," the Commission's head Tembinkosi Bonakele said in
Unilever's South African unit declined to comment. Unilever
does not report local turnover figures.
The Commission has handed the findings of the probe along
with a recommendation for a penalty to the Competition Tribunal,
which holds hearings on the antitrust matters before giving the
(Reporting by Tiisetso Motsoeneng, editing by Elaine