Industry Denies Market Abuse

by 5m Editor
23 February 2010, at 7:04am

SOUTH AFRICA - Southern African Poultry Association (SAPA) says the allegations of market fixing made at the poultry industry are unfounded.

The poultry industry is being investigated by the Competition Commission, which is alleging market abuse by the SAPA and various individual producers.

In an interview with IOL of South Africa, Kevin Lovell, SAPA chief executive officer, said: "If they find against us they are finding against the global poultry industry, not only against South Africa.

"We honestly believe there is nothing in any of our practices which is in conflict with global practice or local law. It is certainly not our intention to do that."

Mr Lovell declined to name the producers, saying he did not know if they had yet publicised the fact that the Commission had summonsed them.