People shop in a grocery store in Montreal, Wednesday, November 16, 2022. THE CANADIAN PRESS/Graham Hughes
OTTAWA РMetro Inc. president and CEO Eric La Fl̬che says all major industry players need to sign on to the grocery code of conduct in order for it to be successful.
La Flèche told MPs at a House of Commons agriculture committee meeting on stabilizing food prices that Metro is willing to sign the code of conduct as it’s currently drafted.
Last week, executives from Walmart Canada and Loblaw Cos. Ltd. told the committee that they can’t sign the code in its current form because they’re concerned the code will raise prices for consumers.
On Thursday, federal Agriculture Minister Lawrence MacAulay and Quebec Agriculture Minister Andre Lamontagne called on all the major grocers to sign the code.
New research released Monday by the Centre for Future Work found that profits in the Canadian grocery sector will likely exceed $6 billion this year, setting a new record.
The major grocers have been under pressure from the government to enact plans that will help stabilize food prices for Canadians.
This report by The Canadian Press was first published Dec. 11, 2023.
Companies in this story: (TSX:MRU, TSX:L, TSX:EMP.A)
