Government announces Grocery Code of Conduct
Morning Report
English - August 31, 2023 19:20 - 3 minutes - 3.56 MB - ★★★★ - 11 ratingsNews Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
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The Government has launched its Grocery Code of Conduct, saying it's calling time on the coercive behaviour of the big supermarket chains.
The Minister of Commerce and Consumer Affairs Duncan Webb says the new rules will target abuses of power by the two main supermarket chains, Woolworths, formerly Countdown, and Foodstuffs, which runs the Pak n Save, New World and Four Square brands.
The Code requires supermarkets to act in good faith with suppliers, to pay them on time, and bans retrospective contract changes.
Breaches of the Code will attract stiff penalties with fines up to $3 million, or 3 percent of turnover, whichever is the greater.
Webb spoke to Ingrid Hipkiss.