It's been a tough few years for shoppers in Australia, especially those living on a budget and already struggling to get by.

The rising cost of living has made it tougher than ever to stretch a dollar, and it doesn't help when supermarkets have also bumped up their prices on a wide range of essential items.

That’s why one senior member of parliament has asked the Australian Competition and Consumer Commission (ACCC) to investigate why prices at two of the biggest local supermarkets, Coles and Woolworths, have been slow to change despite lower prices from farmers.

Shadow Agricultural Minister David Littleproud suggested taking note of recent figures from Meat and Livestock Australia, who have reported that some categories of sheep and lamb have fallen by up to 70 percent at the saleyards in the last year.

‘Lamb prices have drastically reduced and cattle prices have fallen by about 60 per cent. Yet families at the supermarkets have barely noticed a difference in prices,’ he said.

Data released in August revealed that the two grocery giants reported financial gains and their profits exceeded the $1 billion mark.

Woolworths Group, which owns the largest supermarket chain in Australia, reported a $1.62 billion profit in August. Meanwhile, Coles Group, the country's second-largest supermarket chain owner, announced an annual profit of $1.1 billion.

An inquiry has been called into surging supermarket prices as farmers sell stock at lower prices, while supermarket prices stay the same. Image source: Pixabay

While Labor has initiated a competition task force to scrutinise the industry, this process reportedly is expected to progress over two years. Littleproud stressed the urgency, stating that an ‘urgent response’ is essential.

Littleproud pressed for an investigation, asserting that ‘families cannot afford to wait two years for answers’.

In contrast to a lengthy review, Littleproud argued that the Australian Competition and Consumer Commission (ACCC) has more authority to take immediate action and lower prices.

The ACCC responded to Littleproud by reminding the public that the attempt to regulate pricing in the agriculture sector in the past ended in disaster.

‘Grocery prices have been impacted by various factors, including supply chain disruptions, increasing prices of fuel and energy, high transport costs, labour shortages, poor weather conditions and significant weather events, and high international demand for some products placing additional pressure on domestic prices,’ a spokesperson said.

They mentioned that, although they have conducted market studies, the ACCC also lacks the authority to regulate pricing in the agriculture sector.

Previous attempts to regulate agriculture sector pricing were failures, according to the ACCC.
Image source: Pixabay

‘Past attempts to impose regulated pricing in agriculture, such as the Wool Reserve Price Scheme, eventually had a disastrous direct impact on farmers, and also stifled innovation and productivity, reducing the global competitiveness of the sector.’

'Australia’s recent success as a major agricultural exporter is very much dependent on the competitiveness of the sector, which would inevitably be put at risk if prices were to be regulated,' they warned.

Nevertheless, the ACCC has issued recommendations advocating for changes to government policy.

‘The ACCC has, in a number of inquiries and market studies, made recommendations about the need for more price transparency in agricultural supply chains from downstream participants such as food processors,’ the spokesperson added.

‘This is particularly important in concentrated markets.’

Ultimately, they stressed that the decision on whether a price inquiry proceeds is a matter for the government to determine.

Key Takeaways

• Shadow Agricultural Minister David Littleproud has called for an ACCC investigation into supermarket prices due to a significant discrepancy in the cost of stock being sold by farmers.
• He pointed out that farmers are being paid significantly less for their products, but the reduced prices are not being reflected in supermarkets, which continue to charge the same prices.
• The ACCC responded, explaining that various factors have impacted grocery prices and that they do not have the power to regulate pricing in the agriculture sector.
• The ACCC mentioned that it has recommended the need for more price transparency in agricultural supply chains and that the decision to proceed with a price inquiry is up to the government.

Members, what do you think of this story? Share your thoughts in the comments below!

 

[Shane/#]

It's been a tough few years for shoppers in Australia, especially those living on a budget and already struggling to get by.

The rising cost of living has made it tougher than ever to stretch a dollar, and it doesn't help when supermarkets have also bumped up their prices on a wide range of essential items.

That’s why one senior member of parliament has asked the Australian Competition and Consumer Commission (ACCC) to investigate why prices at two of the biggest local supermarkets, Coles and Woolworths, have been slow to change despite lower prices from farmers.

Shadow Agricultural Minister David Littleproud suggested taking note of recent figures from Meat and Livestock Australia, who have reported that some categories of sheep and lamb have fallen by up to 70 percent at the saleyards in the last year.

‘Lamb prices have drastically reduced and cattle prices have fallen by about 60 per cent. Yet families at the supermarkets have barely noticed a difference in prices,’ he said.

Data released in August revealed that the two grocery giants reported financial gains and their profits exceeded the $1 billion mark.

Woolworths Group, which owns the largest supermarket chain in Australia, reported a $1.62 billion profit in August. Meanwhile, Coles Group, the country's second-largest supermarket chain owner, announced an annual profit of $1.1 billion.

View attachment 34652

An inquiry has been called into surging supermarket prices as farmers sell stock at lower prices, while supermarket prices stay the same. Image source: Pixabay

While Labor has initiated a competition task force to scrutinise the industry, this process reportedly is expected to progress over two years. Littleproud stressed the urgency, stating that an ‘urgent response’ is essential.

Littleproud pressed for an investigation, asserting that ‘families cannot afford to wait two years for answers’.

In contrast to a lengthy review, Littleproud argued that the Australian Competition and Consumer Commission (ACCC) has more authority to take immediate action and lower prices.

The ACCC responded to Littleproud by reminding the public that the attempt to regulate pricing in the agriculture sector in the past ended in disaster.

‘Grocery prices have been impacted by various factors, including supply chain disruptions, increasing prices of fuel and energy, high transport costs, labour shortages, poor weather conditions and significant weather events, and high international demand for some products placing additional pressure on domestic prices,’ a spokesperson said.

They mentioned that, although they have conducted market studies, the ACCC also lacks the authority to regulate pricing in the agriculture sector.

View attachment 34651

Previous attempts to regulate agriculture sector pricing were failures, according to the ACCC.
Image source: Pixabay

‘Past attempts to impose regulated pricing in agriculture, such as the Wool Reserve Price Scheme, eventually had a disastrous direct impact on farmers, and also stifled innovation and productivity, reducing the global competitiveness of the sector.’

'Australia’s recent success as a major agricultural exporter is very much dependent on the competitiveness of the sector, which would inevitably be put at risk if prices were to be regulated,' they warned.

Nevertheless, the ACCC has issued recommendations advocating for changes to government policy.

‘The ACCC has, in a number of inquiries and market studies, made recommendations about the need for more price transparency in agricultural supply chains from downstream participants such as food processors,’ the spokesperson added.

‘This is particularly important in concentrated markets.’

Ultimately, they stressed that the decision on whether a price inquiry proceeds is a matter for the government to determine.

Key Takeaways

• Shadow Agricultural Minister David Littleproud has called for an ACCC investigation into supermarket prices due to a significant discrepancy in the cost of stock being sold by farmers.
• He pointed out that farmers are being paid significantly less for their products, but the reduced prices are not being reflected in supermarkets, which continue to charge the same prices.
• The ACCC responded, explaining that various factors have impacted grocery prices and that they do not have the power to regulate pricing in the agriculture sector.
• The ACCC mentioned that it has recommended the need for more price transparency in agricultural supply chains and that the decision to proceed with a price inquiry is up to the government.

Members, what do you think of this story? Share your thoughts in the comments below!

The duopoly of Woolworths and Coles continues the consumer are getting ripped off and the farmer well they are getting gutted from these greedy bastards

 

[Staffordshire Whippet]

Redundant article.
All you needed to write under the headline was "Well, DUH!"

 

[Yves Altana]

It's been a tough few years for shoppers in Australia, especially those living on a budget and already struggling to get by.

The rising cost of living has made it tougher than ever to stretch a dollar, and it doesn't help when supermarkets have also bumped up their prices on a wide range of essential items.

That’s why one senior member of parliament has asked the Australian Competition and Consumer Commission (ACCC) to investigate why prices at two of the biggest local supermarkets, Coles and Woolworths, have been slow to change despite lower prices from farmers.

Shadow Agricultural Minister David Littleproud suggested taking note of recent figures from Meat and Livestock Australia, who have reported that some categories of sheep and lamb have fallen by up to 70 percent at the saleyards in the last year.

‘Lamb prices have drastically reduced and cattle prices have fallen by about 60 per cent. Yet families at the supermarkets have barely noticed a difference in prices,’ he said.

Data released in August revealed that the two grocery giants reported financial gains and their profits exceeded the $1 billion mark.

Woolworths Group, which owns the largest supermarket chain in Australia, reported a $1.62 billion profit in August. Meanwhile, Coles Group, the country's second-largest supermarket chain owner, announced an annual profit of $1.1 billion.

View attachment 34652

An inquiry has been called into surging supermarket prices as farmers sell stock at lower prices, while supermarket prices stay the same. Image source: Pixabay

While Labor has initiated a competition task force to scrutinise the industry, this process reportedly is expected to progress over two years. Littleproud stressed the urgency, stating that an ‘urgent response’ is essential.

Littleproud pressed for an investigation, asserting that ‘families cannot afford to wait two years for answers’.

In contrast to a lengthy review, Littleproud argued that the Australian Competition and Consumer Commission (ACCC) has more authority to take immediate action and lower prices.

The ACCC responded to Littleproud by reminding the public that the attempt to regulate pricing in the agriculture sector in the past ended in disaster.

‘Grocery prices have been impacted by various factors, including supply chain disruptions, increasing prices of fuel and energy, high transport costs, labour shortages, poor weather conditions and significant weather events, and high international demand for some products placing additional pressure on domestic prices,’ a spokesperson said.

They mentioned that, although they have conducted market studies, the ACCC also lacks the authority to regulate pricing in the agriculture sector.

View attachment 34651

Previous attempts to regulate agriculture sector pricing were failures, according to the ACCC.
Image source: Pixabay

‘Past attempts to impose regulated pricing in agriculture, such as the Wool Reserve Price Scheme, eventually had a disastrous direct impact on farmers, and also stifled innovation and productivity, reducing the global competitiveness of the sector.’

'Australia’s recent success as a major agricultural exporter is very much dependent on the competitiveness of the sector, which would inevitably be put at risk if prices were to be regulated,' they warned.

Nevertheless, the ACCC has issued recommendations advocating for changes to government policy.

‘The ACCC has, in a number of inquiries and market studies, made recommendations about the need for more price transparency in agricultural supply chains from downstream participants such as food processors,’ the spokesperson added.

‘This is particularly important in concentrated markets.’

Ultimately, they stressed that the decision on whether a price inquiry proceeds is a matter for the government to determine.

Key Takeaways

• Shadow Agricultural Minister David Littleproud has called for an ACCC investigation into supermarket prices due to a significant discrepancy in the cost of stock being sold by farmers.
• He pointed out that farmers are being paid significantly less for their products, but the reduced prices are not being reflected in supermarkets, which continue to charge the same prices.
• The ACCC responded, explaining that various factors have impacted grocery prices and that they do not have the power to regulate pricing in the agriculture sector.
• The ACCC mentioned that it has recommended the need for more price transparency in agricultural supply chains and that the decision to proceed with a price inquiry is up to the government.

Members, what do you think of this story? Share your thoughts in the comments below!

Are Coles and Woolies overcharging customers?
It's a laughable question.
Of course they do, they always did and always will!
When they have their "half price" sales weekly, would you think for an instant that they are selling at loss?
Of course they're not, they still make a profit, so remember, when you're buying at regular price you are buying at over inflated prices.
That's what big corporations do, profiteering at our expense.

 

[LeahI]

Grocery prices have been impacted by various factors, including supply chain disruptions, increasing prices of fuel and energy, high transport costs, labour shortages, poor weather conditions and significant weather events, and high international demand for some products placing additional pressure on domestic prices,’ a spokesperson said.

What exactly is a supply chain disruption? And international demand for OUR product means we as Australian consumers are second rate to overseas market.
Also this response from the toothless ACCC misses the point. Littleproud wants the seller investigated not the the original supplier, idiots.

 

[IAN3005]

The duopoly of Woolworths and Coles continues the consumer are getting ripped off and the farmer well they are getting gutted from these greedy bastards

'Gold bricks for a dollar' was the cry from the buying director... screw the supplier.. drive the cost so low that the business becomes unsustainable, for the supplier, that he draws the line just before he loses the business, bankrupt. Do you think Coles and Woollies give stuff, think again. Seen it happen.

 

[zevon1956]

It's been a tough few years for shoppers in Australia, especially those living on a budget and already struggling to get by.

The rising cost of living has made it tougher than ever to stretch a dollar, and it doesn't help when supermarkets have also bumped up their prices on a wide range of essential items.

That’s why one senior member of parliament has asked the Australian Competition and Consumer Commission (ACCC) to investigate why prices at two of the biggest local supermarkets, Coles and Woolworths, have been slow to change despite lower prices from farmers.

Shadow Agricultural Minister David Littleproud suggested taking note of recent figures from Meat and Livestock Australia, who have reported that some categories of sheep and lamb have fallen by up to 70 percent at the saleyards in the last year.

‘Lamb prices have drastically reduced and cattle prices have fallen by about 60 per cent. Yet families at the supermarkets have barely noticed a difference in prices,’ he said.

Data released in August revealed that the two grocery giants reported financial gains and their profits exceeded the $1 billion mark.

Woolworths Group, which owns the largest supermarket chain in Australia, reported a $1.62 billion profit in August. Meanwhile, Coles Group, the country's second-largest supermarket chain owner, announced an annual profit of $1.1 billion.

View attachment 34652

An inquiry has been called into surging supermarket prices as farmers sell stock at lower prices, while supermarket prices stay the same. Image source: Pixabay

While Labor has initiated a competition task force to scrutinise the industry, this process reportedly is expected to progress over two years. Littleproud stressed the urgency, stating that an ‘urgent response’ is essential.

Littleproud pressed for an investigation, asserting that ‘families cannot afford to wait two years for answers’.

In contrast to a lengthy review, Littleproud argued that the Australian Competition and Consumer Commission (ACCC) has more authority to take immediate action and lower prices.

The ACCC responded to Littleproud by reminding the public that the attempt to regulate pricing in the agriculture sector in the past ended in disaster.

‘Grocery prices have been impacted by various factors, including supply chain disruptions, increasing prices of fuel and energy, high transport costs, labour shortages, poor weather conditions and significant weather events, and high international demand for some products placing additional pressure on domestic prices,’ a spokesperson said.

They mentioned that, although they have conducted market studies, the ACCC also lacks the authority to regulate pricing in the agriculture sector.

View attachment 34651

Previous attempts to regulate agriculture sector pricing were failures, according to the ACCC.
Image source: Pixabay

‘Past attempts to impose regulated pricing in agriculture, such as the Wool Reserve Price Scheme, eventually had a disastrous direct impact on farmers, and also stifled innovation and productivity, reducing the global competitiveness of the sector.’

'Australia’s recent success as a major agricultural exporter is very much dependent on the competitiveness of the sector, which would inevitably be put at risk if prices were to be regulated,' they warned.

Nevertheless, the ACCC has issued recommendations advocating for changes to government policy.

‘The ACCC has, in a number of inquiries and market studies, made recommendations about the need for more price transparency in agricultural supply chains from downstream participants such as food processors,’ the spokesperson added.

‘This is particularly important in concentrated markets.’

Ultimately, they stressed that the decision on whether a price inquiry proceeds is a matter for the government to determine.

Key Takeaways

• Shadow Agricultural Minister David Littleproud has called for an ACCC investigation into supermarket prices due to a significant discrepancy in the cost of stock being sold by farmers.
• He pointed out that farmers are being paid significantly less for their products, but the reduced prices are not being reflected in supermarkets, which continue to charge the same prices.
• The ACCC responded, explaining that various factors have impacted grocery prices and that they do not have the power to regulate pricing in the agriculture sector.
• The ACCC mentioned that it has recommended the need for more price transparency in agricultural supply chains and that the decision to proceed with a price inquiry is up to the government.

Members, what do you think of this story? Share your thoughts in the comments below!

We live in a free market which is why the CCC can't regulate prices. Companies and individuals can charge what they like, or to put it another way, what the market will bear. Supermarket chains first loyalty is to their shareholders. Competition is the key. Do you want to revert to retail price maintenance, outlawed in the sixties, where everything was exactly the same price no matter where you went?

 

[wendell]

yes this article will and should get people up in arms The poor farmer misses out again and the greedy supermarket giants make the profit from their loyal customers Great form of business. I even heard that it is the company brands that put on the specials at the supermarket

 

[David567]

Banks are just as guitly of massive profits. The ANZ is bragging about $7 billion. Then there are other banks doing the same thing. These big business have made no effort to reduce fees. A wild guess says these big business have cost Australians over $50 billion in the last year. Add to that the scammers have cost over $3 billion.
Why does any business need to make that much money at the expense of the customers. WHY ?

 

[Trouper21]

Are Coles and Woolies overcharging customers?
It's a laughable question.
Of course they do, they always did and always will!
When they have their "half price" sales weekly, would you think for an instant that they are selling at loss?
Of course they're not, they still make a profit, so remember, when you're buying at regular price you are buying at over inflated prices.
That's what big corporations do, profiteering at our expense.

And what about the other supermarkets, they never get a mention, only Coles and Wollies do. All supermarkets make a profit but only those two are public listed companies so we can see their profit.

 

[riskydave]

It's been a tough few years for shoppers in Australia, especially those living on a budget and already struggling to get by.

The rising cost of living has made it tougher than ever to stretch a dollar, and it doesn't help when supermarkets have also bumped up their prices on a wide range of essential items.

That’s why one senior member of parliament has asked the Australian Competition and Consumer Commission (ACCC) to investigate why prices at two of the biggest local supermarkets, Coles and Woolworths, have been slow to change despite lower prices from farmers.

Shadow Agricultural Minister David Littleproud suggested taking note of recent figures from Meat and Livestock Australia, who have reported that some categories of sheep and lamb have fallen by up to 70 percent at the saleyards in the last year.

‘Lamb prices have drastically reduced and cattle prices have fallen by about 60 per cent. Yet families at the supermarkets have barely noticed a difference in prices,’ he said.

Data released in August revealed that the two grocery giants reported financial gains and their profits exceeded the $1 billion mark.

Woolworths Group, which owns the largest supermarket chain in Australia, reported a $1.62 billion profit in August. Meanwhile, Coles Group, the country's second-largest supermarket chain owner, announced an annual profit of $1.1 billion.

View attachment 34652

An inquiry has been called into surging supermarket prices as farmers sell stock at lower prices, while supermarket prices stay the same. Image source: Pixabay

While Labor has initiated a competition task force to scrutinise the industry, this process reportedly is expected to progress over two years. Littleproud stressed the urgency, stating that an ‘urgent response’ is essential.

Littleproud pressed for an investigation, asserting that ‘families cannot afford to wait two years for answers’.

In contrast to a lengthy review, Littleproud argued that the Australian Competition and Consumer Commission (ACCC) has more authority to take immediate action and lower prices.

The ACCC responded to Littleproud by reminding the public that the attempt to regulate pricing in the agriculture sector in the past ended in disaster.

‘Grocery prices have been impacted by various factors, including supply chain disruptions, increasing prices of fuel and energy, high transport costs, labour shortages, poor weather conditions and significant weather events, and high international demand for some products placing additional pressure on domestic prices,’ a spokesperson said.

They mentioned that, although they have conducted market studies, the ACCC also lacks the authority to regulate pricing in the agriculture sector.

View attachment 34651

Previous attempts to regulate agriculture sector pricing were failures, according to the ACCC.
Image source: Pixabay

‘Past attempts to impose regulated pricing in agriculture, such as the Wool Reserve Price Scheme, eventually had a disastrous direct impact on farmers, and also stifled innovation and productivity, reducing the global competitiveness of the sector.’

'Australia’s recent success as a major agricultural exporter is very much dependent on the competitiveness of the sector, which would inevitably be put at risk if prices were to be regulated,' they warned.

Nevertheless, the ACCC has issued recommendations advocating for changes to government policy.

‘The ACCC has, in a number of inquiries and market studies, made recommendations about the need for more price transparency in agricultural supply chains from downstream participants such as food processors,’ the spokesperson added.

‘This is particularly important in concentrated markets.’

Ultimately, they stressed that the decision on whether a price inquiry proceeds is a matter for the government to determine.

Key Takeaways

• Shadow Agricultural Minister David Littleproud has called for an ACCC investigation into supermarket prices due to a significant discrepancy in the cost of stock being sold by farmers.
• He pointed out that farmers are being paid significantly less for their products, but the reduced prices are not being reflected in supermarkets, which continue to charge the same prices.
• The ACCC responded, explaining that various factors have impacted grocery prices and that they do not have the power to regulate pricing in the agriculture sector.
• The ACCC mentioned that it has recommended the need for more price transparency in agricultural supply chains and that the decision to proceed with a price inquiry is up to the government.

Members, what do you think of this story? Share your thoughts in the comments below!

The honest Australian Supermarkets would not even think about ripping off the public, gosh, how stupid of people to even to think of that with a paltry billion Dollar plus profit, poor struggling supermarkets.....as if it would worry Albo anyway, he would not even know it's happening, he's never here!

 

[IAN3005]

Banks are just as guitly of massive profits. The ANZ is bragging about $7 billion. Then there are other banks doing the same thing. These big business have made no effort to reduce fees. A wild guess says these big business have cost Australians over $50 billion in the last year. Add to that the scammers have cost over $3 billion.
Why does any business need to make that much money at the expense of the customers. WHY ?

Well, the banks don't make a brass razoo out of me...... I make sure of that.....it's the people with the mortgages they cannot afford and the credit card debt that the banks make their money on.

 

[bluetang]

The duopoly of Woolworths and Coles continues the consumer are getting ripped off and the farmer well they are getting gutted from these greedy bastards

They sure are. Just one item a large tin of Milo jumped not 50 cents but a $1.50. Oh sorry I forgot the rising fuel prices, handling costs, and lets throw in climate change. Do the supermarkets think we are stupid?

 

[IAN3005]

They sure are. Just one item a large tin of Milo jumped not 50 cents but a $1.50. Oh sorry I forgot the rising fuel prices, handling costs, and lets throw in climate change. Do the supermarkets think we are stupid?

ACCC is a toothless tiger in my eyes....