Business
Competition can help reduce food prices- unctad
Un trade and development says that competition can help reduce the costs of agricultural inputs like fertilizers and seeds, making food more affordable.
This is disclosed by Teresa Moreira, head of UN Trade and Development’s competition and consumer protection branch
“When companies and farms compete, they strive to improve their techniques, resulting in higher quality products with more variety, sustainable practices, higher yields and lower costs that can increase aggregate surplus across each value chain,” said Ms Moreira.
She added that competition can also help reduce the costs of agricultural inputs like fertilizers and seeds, making food more affordable.
Competition authorities in action
Competition law and policy can redress market power abuse and unfair trade practices.
In Austria, for example, the federal competition authority (AFCA) launched investigations into vertical price fixing in the food sector, where powerful retailers attempted to control resale prices, harming small and medium-sized producers.
Following around 50 unannounced inspections, known as “dawn raids”, the AFCA concluded 27 cases, resulting in nearly €70 million in fines. The authority also devised guidelines on resale price maintenance in 2022.
In Kenya, the competition authority (CAK) recently found that a large supermarket chain had abused its buyer power over suppliers, leading to fines and required amendments to contract clauses that facilitated such abuse.
Similarly, in South Africa, the competition authority settled a cartel case involving margarine and edible oils, issuing fines against companies involved.
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Business
WEF could appoint Lagarde as its next chair, sources say
The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of the matter.
•European Central Bank President Christine Lagarde
The World Economic Forum could appoint Christine Lagarde as its next chair as soon as next month, four people close to the organisation told Reuters, meaning she would step down early as European Central Bank chief and trigger a wider reshuffle at the top of the ECB.Lagarde’s ECB term is scheduled to end in October 2027.
Leaving early would give European Union leaders a chance to pick a new ECB President before France’s spring presidential election, which opinion polls suggest the far-right could win, and could pave the way for a deal involving two other senior ECB roles.
The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of the matter.
No final decision has been taken yet, they said.
A spokesperson for the WEF said the forum could not confirm when the next full Board of Trustees meeting would take place, but that the aim was to hold one before the end of the year.
Business
Germany plans tax on sugary drinks
The tax is expected to generate additional revenue for the federal government of €690 million in 2027 and €925 million in 2028.
The German cabinet has approved draft legislation to tax sugary drinks in Europe’s biggest economy.
If passed by the German Bundestag, the tax will take effect on 1 July 2027.
The coalition aims to raise revenue for the federal budget while encouraging manufacturers to reduce sugar content and offer healthier products.
The levy is intended to ease pressure on the healthcare system, which faces costs of more than €2 billion every year linked to the high consumption of sugary drinks, which contributes to obesity, diabetes and tooth decay.
According to the federal government, Berlin is using the tax to implement “what associations from the fields of health, science, child protection, and consumer protection have long been demanding.”
The tax is expected to generate additional revenue for the federal government of €690 million in 2027 and €925 million in 2028.
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