Last week, the Australian Bureau of Statistics reported that while inflation had dropped to a three-year low, fruit and vegetable prices went up by 6.3 per cent in 2024 alone.
NSW Farmers’ horticulture committee chair Jo Brighenti-Barnard said the big supermarkets have been quick to blame inflation for rising costs over the last couple of years, but slow to bring prices down now that inflation has dropped to its lowest point in years.
“The data shows that consumers are still paying through the nose to put food on the table, while most farmers aren’t receiving any greater returns for what they’re growing,” Ms Brighenti-Barnard said.
“Without price transparency, the major supermarkets are still likely to use their profit push practices, and we remain concerned they’re taking advantage of their market power – as well as other factors like shortages and seasonality of products – to extract huge profits from farmers and families alike."
As the nation’s consumer watchdog prepares to hand down the results of its inquiry into the major supermarkets next month, Ms Brighenti-Barnard warned comprehensive reform of the nation’s competition landscape remained vital for households across the country.
“Cost-of-living has been the catchcry of many politicians, but we need to see real change if we want to ease the pressure on farmers and families that just want to put food on the table,” Ms Brighenti-Barnard said.
“This change must include solutions to increase price transparency and give us clear visibility of prices at the farmgate and the checkout, so we can see when profits are being sucked unfairly out of the middle.
“Expanded powers and funding for our consumer watchdog are also much-needed, alongside an economy-wide prohibition on unfair trading practices and new divestiture powers to bust apart duopolies if and when necessary, so farmers and families can get a fair go.”
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