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Dairy industry's competitive 'imbalances' warrant mandatory code, Australian official says

( May 6, 2019, 05:48 GMT | Official Statement) -- MLex Summary: Australia’s dairy industry requires a mandatory code of conduct to better manage imbalances in marketing power and information asymmetries, a top competition official says. Speaking at the 2019 Trans Tasman Dairy Leaders Forum in Melbourne today, the Australian Competition & Consumer Commission’s Mick Keogh said that although the deregulation of the dairy market had been largely beneficial, a “suite of interventions” was required to increase competition. Measures should include a mandatory code of conduct to manage the relationship between processors and dairy farmers. “[T]he lack of compulsion and adverse consequences arising from a breach of a voluntary code erodes its value over time and means that backsliding on improved competition will be inevitable,” Keogh told the meeting of the Australian and New Zealand dairy industry.The full speech by the ACCC's Mick Keogh to the 2019 Trans Tasman Dairy Leaders Forum in Melbourne follows: ...

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