https://newsletter.en.creamermedia.com
Flow|Flow
Flow|Flow
flow-company|flow-industry-term

Itac makes strides in investigation of active yeast dumping from Zim

15th May 2024

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

The International Trade Administration Commission (Itac) has asked the South African Reserve Bank to impose provisional duties on imports of active yeast originating in or imported from Zimbabwe for six months while further investigation into allegations of dumping is under way.

Itac has been investigating the alleged dumping of active yeasts originating in or imported from Zimbabwe since August last year.

The commission first received a complaint on the matter in October 2022, which was lodged by the only producer of active yeast in the Southern African Custom Union (SACU), Rymco – trading as Anchor Yeast.

Some evidence gathered by Itac has showed that the subject product is being imported into SACU at dumped prices. Particularly, 635 250 kg of dumped imports from Zimbabwe are estimated to have occurred in 2022.

Active yeast is used in the preparation of food and beverages for human and animal consumption.

Itac has confirmed in a preliminary determination that the dumping of compressed yeast from a particular supplier in Zimbabwe is taking place and that there is material injury to the SACU industry – or Anchor Yeast – in the form of price undercutting, price suppression, declining sales volume, impact on market share, declining profitability, declining output, declined employment, decreased return on investment, declined capacity utilisation, lower cash flow, increased inventory levels and declines in growth.

Anchor Yeast stated in its submission to the commission that there are no differences between the imported product and its product, meaning they are fully substitutable and identical in all aspects.

The commission is of the view that Anchor Yeast would continue to experience material injury during the course of the investigation if provisional duties are not imposed. 

It was found that the imported product from Zimbabwe has undercut Anchor Yeast’s selling price by 79% during the period of investigation.

The commission is in the process of making its final determination and recommendation to Trade, Industry and Competition Minister Ebrahim Patel.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Latest News

An image showing the Self-Employed Material Recycler Training Programme
Plastics SA launches informal recycler training programme
Updated 25 minutes ago By: Tasneem Bulbulia

Showroom

Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 
Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/11/2024)
15th November 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:2.525 2.657s - 191pq - 2rq
Subscribe Now