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The Competition Commission claims there are possible"opportunistic" increases in the sunflower oil industry. It has found that sunflower oil processor prices increased by 72% in 2022, far more than the price of sunflower seeds, which has remained relatively stable. Despite this hike, retail prices only increased by 36%, which indicates that retailers absorbed some of the increase.
But it is risky to analyse the price of a single oilseed - like sunflower oil - in isolation, cautions Pieter Taljaard, CEO of GrainSA, in reaction to the report. According to Christo van der Rheede, CEO of Agri SA, when looking at the discrepancy, one must also consider the impact of the conflict in Ukraine. Both Russia and Ukraine are significant producers.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
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