Labor to Introduce Mandatory Code of Conduct for Supermarkets

Major supermarkets and grocery wholesalers in Australia may soon be required to adhere to stricter regulations as the Labor government steps up its crackdown on the grocery sector. On June 24, the government announced that it would strengthen the Food and Grocery Code by accepting all the recommendations of a recent independent review of the sector. The Food and Grocery Code, which was introduced under the Competition and Consumer Act 2010, is a set of voluntary codes of conduct regulating the trading relationship between suppliers and supermarkets While the Code sets out obligations between the parties, it contains no penalties for misconduct. In recent years, major supermarket chains such as Coles and Woolworths have been accused of engaging in price gouging and unfair pricing practices amid the cost of living crisis and inflation....