It’s about time! Competition Bureau Canada is finally investigating the nation’s persistent high food prices. And its findings could lead to new legislation, regulations and even criminal investigations of players across the food supply chain…
I’ve been saying for ages that Canada needed federal government intervention to drive down food prices. The supermarkets just haven’t done it voluntarily, in spite of industry initiatives such as the Canada Grocery Code of Conduct…
Not for consumers
The Code was supposed to encourage competition and fair play in the food industry. But it was largely written by the supermarket cartel. Even so, it took some time for all of the Big 5 retail chains to sign on to it.
And, as you might expect, in then end, the Code has nothing in it for consumers, in spite of all its lofty language and intents.
But supermarket chains continue to expand, and post double digit profits quarter after quarter.
Industry-wide probe
Competition Bureau Canada (CBC) has announced an industry-wide probe looking for looking for, “competition factors affecting food affordability.” Canadians have until July 30 to submit evidence and opinions about the situation.
Interim Commissioner of Competition Jeanne Pratt said, in a statement: “The cost of food matters to all Canadians, and strong competition can help keep prices in check. Our examination builds on our earlier work in the retail grocery sector and will look at all parts of the food supply chain. If you have experience in any sector along that supply chain, we want to hear from you. Your input will help us find solutions that support competition and affordability.”
My take
Maybe now we’ll finally see some real action on high food prices. Though the probe may take some time to complete, and it’s resulting changes some time to implement.
I’m all for the CBC investigation and I hope it produces results for consumers. But I’ll only believe that when I see it.
My questions to you…
Do you believe the CBC probe is a good thing?
Should it have been launched sooner, in light of the persistent and worsening food affordability crisis?
Do you believe the CBC probe will produce effective results?
Do you believe food prices will drop as a result (directly or indirectly) of the CBC inquiry?
Muse on that!
~ Maggie J.