Cabinet welcomed the settlement reached between the Competition Commission and Pioneer Foods that will see the company paying up to R1 billion in fines, penalties and other costs for its role in a price fixing cartel. This cartel was engaged in illegal and uncompetitive practices that saw the price of flour, bread and poultry products soar to the detriment of ordinary South Africans who are battling to make ends meet. This settlement sends a clear signal to all companies that such behaviour will not be tolerated.

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