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Food industry hits out at plan to force supermarkets to reveal profit margins

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Proposed food ombudsman would have powers to probe suspected unfair trading practices as chains are accused of price gouging

The food industry has slammed government proposals to compel supermarkets and processors to reveal their profit margins as part of efforts to prevent price gouging.

It comes as supermarket chains have been accused of profiteering over the current inflation in grocery prices. A senior food industry source has said that supermarket bosses have described this country as ‘Treasure Ireland’ because of the higher margins they can charge here compared to other markets.

 

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Food industry hits out at plan to force supermarkets to reveal profit marginsThe food industry has slammed government proposals to compel supermarkets and processors to reveal profit margins as part of efforts to prevent price gouging. It comes as supermarket chains have been accused of profiteering over grocery prices.
Source: businessposthq - 🏆 8. / 71 Read more »

Food industry hits out at plan to force supermarkets to reveal profit marginsProposed food ombudsman would have powers to probe suspected unfair trading practices as chains are accused of price gouging
Source: businessposthq - 🏆 8. / 71 Read more »