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Australia’s grocer chains face billion-dollar fines over supplier treatment

Australia Coles Craig Emerson Woolworths

Woolworths and its rival Coles account for two-thirds of Australia's grocery market [Loren Elliott/Reuters]

Australia will impose hefty fines on supermarket chains found to be abusing their bargaining power over suppliers.

Under the rules announced by the government on Monday, supermarket chains earning more than 5 billion Australian dollars ($3.3bn) in annual revenue will be required to comply with a previously voluntary industry code of conduct.

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