In Canada, a long-awaited set of rules governing the relationships between grocery retailers and suppliers is now in effect, marking a significant milestone for the industry.
The key element of this initiative is the establishment of an independent office tasked with handling complaints, resolving disputes, and overseeing arbitration between retailers and suppliers. To fund this office, participating companies will contribute annual fees.
Major grocery chains such as Loblaw, Metro, Walmart Canada, and Costco Canada have already committed to following the code.
This development comes at a time when food prices in Canada are rising faster than in the United States, with current inflation rates standing at 4.7% in Canada and 1.9% in the U.S. While the code does not impose fines, it emphasizes public accountability. An annual report will disclose which companies are complying with the guidelines.
Although immediate changes at the checkout may not be noticeable to shoppers, experts believe that the new regulations could eventually help alleviate price pressures and enhance the quality and nutritional value of food offered in Canadian stores.
Keyphrase: Canadian grocery retailers
