In December 2023, the Australian Senate resolved that the Select Committee on Supermarket Prices be established to inquire into and report on the price setting practices and market power of major supermarkets. This is the Committee's final report.

This report is structured as follows:

• Chapter 1: outline of the inquiry and introduction to the Australian supermarkets sector;
• Chapter 2: recent reviews into supermarket prices and related matters;
• Chapter 3: the impacts of supermarket prices, including on consumers and in conjunction with other cost of living pressures; market concentration and lack of choice for consumers, particularly in rural and regional areas; food insecurity and wastage; opportunistic pricing practices and misleading advertising; and the value of unit pricing;
• Chapter 4: the relationship between suppliers and supermarkets, including feedback from suppliers in several specific sectors, including fruit and vegetables, meat and dairy, plant nurseries and goods suppliers;
• Chapter 5: considers the experiences of supermarket employees, looking at their take home pay and unsafe working environments;
• Chapter 6: investigates factors which create a competitive market, including mergers, land banking and independent retailers;
• Chapter 7: examines the current regulatory regime and considers evidence to the inquiry on how the supermarket industry could be better regulated, including through improved regulatory settings; changes to the Food and Grocery Code of Conduct; price regulation and transparency;
• Chapter 8: presents the committee’s report on the Competition and Consumer Amendment (Divestiture Powers) Bill 2024, and the evidence received by the committee both in favour and against the bill;
• Chapter 9: outlines the committee's views on supermarket prices and other matters included in the inquiry terms of reference, and the committee's recommendations for change.

Key recommendations:

• That the Australian government progress legislative amendments to section 46 of the Competition and Consumer Act 2010 to prohibit the charging of excess prices (otherwise known as price gouging).
• That the Australian government amend the Competition and Consumer Act 2010 to create divestiture powers specific to the supermarket sector, where a supermarket has been found to have misused their market power under section 46 of the Act, or engaged in unconscionable conduct.
• That the Treasury take immediate steps to make the Food and Grocery Code of Conduct mandatory, with an appropriate regime of financial and other penalties for breaches and protections against supplier retribution.
• As part of reform to merger laws, the Australian government should provide the Australian Competition and Consumer Commission (ACCC) with the powers to investigate and make recommendations to government to address land banking in the supermarket sector.