The Competition and Fair Trading Commission (CFTC) says it is conducting market inspection on basic commodities amid spike in prices.

The Commission’s spokesperson Innocent Helema has told Yoneco FM that the inspection follows widespread reports that prices of products like cooking oil and sugar have skyrocketed.

He said: “We have noticed on social media and of course other platforms that there’s been a spike in the prices of sugar and of course, it is alleged that there is a scarcity of sugar on the market.

“We have also received reports that cooking oil is also scarce, as CFTC we are doing inspections across the country,” Helema said.

He said it is only after CFTC officers have collected and analysed the data would be able to launch investigations against the culprits.

“These teams that are out doing inspections this week and other two teams next week that will conduct the inspections.

“What we are basically looking for during this inspections is we are looking at the prices of basic commodities, cooking oil, bread, sugar and of course, others,” Helema said.

According to Helema, the Commission is also looking at whether the commodities are available on the market because they also have allegations of holding and that the traders would be dealt with if found.