Grocery giants may have to sing for their supper
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Canadian consumers outraged at food prices may have their voices heard yet.
The CEOs of Canada’s supermarkets may be on the hot seat if asked to testify before the House of Commons Standing Committee on Agriculture and Agri-Food.
At an agri-committee meeting last week, NDP MP Alistair MacGregor put forward a motion asking that the supermarket CEOs report to the House of Commons to be questioned about food prices and food price inflation.
The committee’s vote to adopt MacGregor’s motion was unanimous.
As MacGregor tweeted, “Today members of the #AGRI Committee unanimously passed my motion to summon the Presidents and CEOs of the three biggest grocery chains in Canada: Empire, Loblaws, and Metro to answer for their profit-driven inflation of food prices.”
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The Standing Committee on Agriculture and Agri-Food’s study of food price inflation began in early October.
Expert witnesses on the subject who gave testimony at last week’s meeting, fourth of its kind, included Dr. Jim Stanford, who presented a report on how grocery prices have risen faster than inflation.
The scathing report notes that despite their protestations, “Loblaw and the other chains are not innocent intermediaries.” Loblaws has claimed that it is not the cause of high food prices, suggesting manufacturers are the real culprits.
In a recent Toronto Life Magazine story, Stanford referred to Loblaw chief Galen Weston as the, “poster boy for excess.”
The economist did not mince words in blaming grocery stores for sky high food prices.
Stanford tweeted recently about his appearance at the House of Commons Agri-Food Committee’s inquiry on food inflation — above a graph titled “Food Retail Profit Doubled Since Pandemic.”
Both Galen Weston and the CEO of Empire, Michael Medline, have said that if asked, they would appear before a parliamentary committee to answer questions about food prices and corporate profits.
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