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The Commerce Commission raised concerns over reduced competition and negative impacts on New Zealand consumers.
Standardised ‘unit pricing’ is considered the best way for customers to ascertain value for money.
Regulations propose key changes, including a mandatory Food and Grocery Code, improved dispute resolution, and penalties for breaches.
Some fruit and vegetable growers have not been given price rises in 15 years, causing young people to abandon the industry and risking future food shortages.
The ACCC will conduct a 12-month inquiry into the pricing practices of supermarkets and factors influencing prices in the supply chain.
Farmers continue to suffer despite Australian supermarkets being under scrutiny for price gouging and code breaching.
