The Senate inquiry into supermarket prices was supposed to have wrapped up this week, but it is now gearing up to potentially put the likes of Nestlé and Coca-Cola through their paces.
Multinational food manufacturers such as Nestlé and Coca-Cola are being pressed to front up to the Senate inquiry into supermarket prices and answer questions about their role in rising grocery prices.
“It is also good to see that Coles and Woolworths have admitted that having a dominant market position can give corporations significant advantage when it comes to negotiating contracts and prices.” Nestlé and Mondelez International, which make brands like Cadbury, Oreo, Toblerone and Philadelphia cream cheese, have indicated to this masthead they are prepared to cooperate with the inquiry if called.
Barden batted away suggestions that multinationals that make “must-have brands” have more bargaining power with retailers. However, Australian Retailers Association chief executive Paul Zahra said many consumers are very loyal to certain brands, such as Coca-Cola or Tim Tams, and unwilling to purchase alternatives. He disagreed with Barden’s dismissal of
“You can’t have a complete investigation or inquiry without having all the information … we need to see more transparency of all factors contributing to grocery prices.”
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