Australia supermarkets should face hefty fines for code of conduct breach

Australia’s major supermarkets should face hefty fines if they do not comply with an industry code of conduct when dealing with suppliers, a government-commissioned report said while rejecting calls to give regulators the power to break up the big chains.
Supermarkets with more than A$5 billion in annual revenue – which at present are Woolworths, Coles , Germany’s ALDI and wholesaler Metcash – should be forced to comply with the code of conduct that has until now been voluntary, the interim report by former competition minister Craig Emerson recommends.
Companies should be fined up to A$10 million or 10% of revenue if they do not comply with the code, according to the report. The final report is due in June. Woolworths and Coles booked sales of A$64 billion and A$41 billion in 2023.