Supermarket self-regulation is a joke

It is hard not to smile over Woolworths' and Coles' 'voluntary' adoption of a code of conduct. Wasting no time in gaining a public relations advantage, Woolworths chief executive Grant O'Brien joined Wesfarmers managing director Richard Goyder in urging Aldi, Costco and IGA to sign the landmark grocery code of conduct with suppliers. The code was the result of 14 months of negotiations with the Australian Food and Grocery Council. Now that the duopoly has decided to mend its ways, it seems it can occupy the moral high ground and preach to everyone else.