Australia Enforces Mandatory Supermarket Code with Severe Penalties

New regulations aim to balance power between supermarkets and suppliers, imposing fines up to 10% of annual turnover for breaches.

The mandatory code replaces a voluntary system criticized for failing to protect suppliers.
Supermarkets with over A$5 billion in annual revenue must comply, affecting Woolworths, Coles, Aldi, and Metcash.
Violations could result in fines up to A$10 million or 10% of annual turnover, potentially reaching billions.
The government will establish an anonymous complaints mechanism for suppliers and whistleblowers.
The initiative seeks to ensure fairer prices and better treatment for farmers and consumers.