Reported 11 months ago
Australia plans to enforce the supermarket industry code of conduct on major grocers like Woolworths, Coles, ALDI, and Metcash with fines of up to 10% of annual turnover for non-compliance, in an effort to address concerns of unfair pricing pressure on suppliers. The move aims to rectify the imbalance of bargaining power and protect farmers, as pointed out by a government-commissioned review. The government is prioritizing legislation to make the code mandatory, with commitments from the supermarkets to support a sustainable grocery sector. This initiative is part of several ongoing inquiries into Australia's highly concentrated supermarket industry, dominated by Woolworths and Coles.
Source: YAHOO