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Economy Minister Bruno Le Maire on Monday asked food manufacturers to speed up negotiations to bring prices down, while congratulating distributors for extending the “anti-inflation quarter” operation until 'at the end of the year. Negotiations with industrialists "are not going fast enough", estimated the minister on France 5, adding that "certain industrialists, certain large industrial multinationals are playing for time", and recalling that the 75 largest industrialists in the food industry have pledged to reopen trade negotiations with distributors. “To date, there are two or three who have done it”, according to Bruno Le Maire, citing the distributors. "I will bring together the agro-food manufacturers and the representatives of the distributors in the coming days", announced the minister, specifying that if negotiations did not open before June 15, they would have "no effect on prices in September and October".
The rise in consumer prices rose to 5.1% in May over one year, but that of food products amounted to 14.1%. "Before the end of June, I will publish the list of all the agro-food industrialists who have played the game and the list of the agro-food industrialists who have refused to return to the negotiating table and who did not want to lower retail prices while wholesale prices are falling,” explained Bruno Le Maire. In addition, "we will use the tax tool to search the margins of the large industrialists, which are high and which are recovering, the prices that they did not want to give to consumers during the trade negotiations of the spring", has he warned.
Bruno Le Maire also welcomed the distributors “who have all agreed to extend until the end of 2023 the operation of the anti-inflation quarter which was to end on June 15”. Since March 15 and for an initial period of three months, most distributors had undertaken to sell a selection of products at the “lowest possible price”, a formula leaving them great freedom of maneuver.
