Woolworths and Coles have reduced red meat prices for consumers while facing allegations of price gouging. Former ACCC chairman Allan Fels has called for a competition watchdog inquiry into the supermarkets.
Woolworths and Coles have slashed red meat prices for consumers and defended the amounts they pay farmers, as the man unions picked to investigate allegations of price gouging called for a competition watchdog inquiry into the big supermarkets. Former Australian Competition and Consumer Commission chairman Allan Fels wrote to Treasurer Jim Chalmers on Monday, asking for the ACCC to launch a formal investigation ahead of the release of his findings in February.
Professor Fels said his inquiry – initiated by the Australian Council of Trade Unions – had been “inundated with concerns from experts and regular Australians alike on the prices set by major supermarkets”. “I draw your attention to a key recommendation: there should be a comprehensive ACCC inquiry into competition and prices in the retail food and grocery industry,” he said. Woolworths on Monday confirmed it had dropped prices for almost 80 red meat products – including 20 per cent off all lamb – even though it pays farmers according to long-term contract rate
Woolworths Coles Red Meat Prices Farmers Competition Inquiry ACCC
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