When it comes time to shop for groceries, Canadians often only have a choice between banners owned by a handful of large corporations. This could help keep food prices high, according to Canada’s Competition Bureau, which announced Monday that it is launching a study on this industry now.
“Many factors are believed to have affected the price of food, including extreme weather conditions, rising input costs, Russia’s invasion of Ukraine and supply chain disruptions. Are competitive factors also at work? writes the federal agency in a press release.
The study, which will run until June 2023, will attempt to shed light on the role of Canadian competitive dynamics in driving up the grocery bill and find solutions to increase the number of players in the market.
Remember that last Monday, the members of the House of Commons unanimously adopted a motion asking the Competition Bureau to conduct “an investigation into the profits of grocery store chains”.
More details will follow.
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