Canada's grocery sector needs more competition to help keep food prices down, give shoppers more choice and encourage new entrants, the country's competition watchdog says.
In a highly anticipated study released Tuesday, the Competition Bureau said concentration in the grocery industry has increased in recent years and the largest grocers have increased the amount they make on food sales.
That's roughly equivalent to $1 to $2 on each $100 that Canadians spend on groceries, the study found."Canada needs solutions to help bring grocery prices in check," the study said."More competition is a key part of the answer." "They've drawn attention to some of the challenges that are faced by independent grocers," he said."There are a lot of barriers to entry that make it hard to compete with the chains and this will hopefully lead to some changes."
It said it also needs to approach its work in the grocery industry with"heightened vigilance and scrutiny" to ensure Canadians benefit from greater choice and more affordable groceries. It also committed to revisiting the findings of its study in three years to assess the progress on recommendations it has made to government.
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