Queensland launches inquiry into big four supermarkets over “outrageous prices”

The Queensland government has appointed a supermarket pricing select committee to examine why climbing prices for fresh produce do not correlate with agricultural industry profits and whether consumers are being charged too much.

On Friday, Premier Steven Miles announced the creation of the bipartisan committee, noting the inquiry would look at discrepancies between retail and wholesale and farm gate prices, including different-sized businesses.

The committee inquiry may lead to major reforms to state policies concerning information transparency for producers, including what data will reduce information asymmetry between suppliers and the big supermarkets.

Bundaberg MP Tom Smith will chair the inquiry, which will examine the causes and effects of increased supermarket prices and identify opportunities to increase transparency in the sector.