Food price see-saw blamed on cowboy traders - SA

[dArKeR]

By Boyd Webb

The cost of food, in real terms, has come down to 1999 levels, according to a Food Price Monitoring Committee (FPMC) report released on Friday.

"The general price of items in a shopping trolley has decreased by three percent in the last year," committee chairman Johann Kirsten told reporters in Pretoria, predicting "very little volatility in the price of food over the next year".

Mandated by the government to probe the sudden increase in food prices in 2001 and 2002, the committee found this had been sparked by a range of factors, including a weak rand/dollar exchange rate and a "Wild West" attitude by brokers trading agricultural derivatives.

'Predatory and unjust pricing amongst retailers'

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