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Market Chatter: New Zealand's Labour Party to Release its Own Policy on Supermarket Duopoly

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New Zealand's Labour Party plans to release its own policy soon on how to tackle the country's supermarket duopoly, Radio New Zealand (RNZ) reported Wednesday, citing Labour representative Vanushi Walters.

Speaking on the Morning Report radio program, Walters acknowledged that the duopoly needs to be addressed, saying that the current government has failed to control rising supermarket prices, according to the report.

Her comments follow the Green Party unveiling a plan to break up the duopoly under which Woolworths Group (ASX:WOW) and Foodstuffs would be required to divest at least 120 stores into public ownership.

Woolworths declined to comment, while Foodstuffs did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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