Canadian House of Commons committee recommends policies to address excessive net profits in food industry, focusing on monopolistic sectors, lowering entry barriers, strengthening competition law, and making grocery code of conduct mandatory.
The House of Commons committee in Canada has recommended that the federal government consider policies to address "excessive net profits" in the food industry, particularly in monopolistic and oligopolistic sectors of the food supply chain. The committee's report suggests lowering barriers to entry for new companies, making legislative changes to strengthen competition law regarding mergers, and discussing with provinces and territories making the grocery code of conduct mandatory. Loblaw, Canada's largest grocer, recently announced its intention to sign on to the code after months of pressure.
May 24, 2024
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