New Zealand's $25b grocery sector eliminates 'handshake' agreements to improve transparency and negotiating power for suppliers.

New Zealand's $25b grocery sector will eliminate old-style 'handshake' supply agreements to address historical power imbalances and pressure tactics between major retailers and suppliers. Grocery Commissioner Pierre van Heerden states that new rules will provide transparency, certainty, and opportunities for suppliers to negotiate contracts effectively, benefiting consumers in the long term.