Australia introduces legislation to mandatoryize a code of conduct for large supermarkets, aiming to balance power with suppliers.

The Australian Parliament introduced legislation on November 27 to make the voluntary food and grocery code of conduct mandatory for large supermarkets. The move aims to address the imbalance between supermarkets and suppliers, with breaches leading to fines of up to $10 million, three times the benefit gained, or 10% of annual turnover. The Australian Competition and Consumer Commission will have new powers to enforce the code, aiming for fairer deals for consumers and farmers.

November 30, 2024
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