2023-05-11 11:13:00
The Minister of Economy and Finance Bruno Le Maire at the end of a Council of Ministers
PARIS (Archyde.com) – Bruno Le Maire on Thursday threatened manufacturers in the agri-food sector to resort to taxation to recover any “undue margins” in a context of high inflation.
The Minister of the Economy is due to receive representatives of the major retail chains in the middle of the day as an extension of the agreement concluded in March with these players to fight once morest the rise in the prices of everyday consumer goods. These distributors had then agreed to reduce their margins for three months on a selection of products of their choice, but some have since accused the manufacturers of not playing the game.
“Today it is the big agri-food manufacturers who make the margins. They have to participate, trade negotiations with distributors have to reopen and they have to lower retail prices when the prices of big drop,” Bruno Le Maire told reporters during a trip to Essonne.
“If ever the agri-food industry refuses to enter into this negotiation, which obviously I cannot imagine, we will use all the measures at our disposal, including the tax instrument to recover the margins, which would be the margins made on the backs of consumers,” he added.
When the agreement on an “anti-inflation quarter” was announced in March, Bruno Le Maire had specified that a point would be made in June and that manufacturers would be asked to renegotiate their prices with large retailers. .
Inflation over one year in France continued to accelerate in April, to 5.9% once morest 5.7% in March, according to preliminary data from INSEE. Food prices jumped 15.9% year on year in March.
(Report Leigh Thomas, written by Bertrand Boucey, edited by Nicolas Delame)
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